15 hours ago
Italy's Fantini buys Venta la Vega to boost Spain wine output
Italy-based wine group Fantini has expanded further in Spain with the acquisition of the Venta la Vega winery and vineyards.
The deal comprises 180 hectares of vineyards in Castilla-La Mancha and could increase Fantini's production in Spain by ten times.
Fantini entered the country four years ago with the acquisition of the Finca Fella winery, also in Castilla-La Mancha.
Finca Fella's output is around one million bottles a year, which could increase to ten million over time, the company said.
'We will be able to increase our Spanish production tenfold, which is set to become the most important of our entire group in a short time,' Fantini said in a statement.
Fantini said its 2023 sales in Spain 'exceeded all expectations' and prompted fresh investment.
"[Castilla La Mancha] is a less-known area right now, but it has huge potential and could soon be the next big thing for Spanish wines," the company said.
CEO Valentino Sciotti added: 'Finca Fella is growing so rapidly that we felt the need to be able to increase production volumes and at the same time be able to continue to raise its already high quality levels."
Fantini was founded in 1994 in Ortona in the Abruzzo region of Italy. The business is headquartered in Pella. The group's total wine production is approximately 22-23m bottles a year.
"Italy's Fantini buys Venta la Vega to boost Spain wine output" was originally created and published by Just Drinks, a GlobalData owned brand.
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