PRINT THIS PAGE Southern European Investindustrial exits second major investment with Ruffino sale16/12/2004. Source: AltAssets. 
 Southern European buy-out firm Investindustrial has sold its 44 per cent stake in Italian Chianti Ruffino winery to US-based wine producer and distributor MPF-Constellation Brands. The enterprise value of the business is €220m.
Ruffino produces premium Italian wines from the regions of Tuscany and Friuli, the majority of which is exported to North America and Europe.
Investindustrial acquired its 44 per cent stake in the Chianti Ruffino winery in December 2002 from the Folonari family. Following this latest transaction the Folonari family will remain the majority shareholder of the company and maintain responsibility for the day-to-day wine making and operations.
Jon Moramarco, president and CEO of Constellation's Franciscan Estates, said, 'The wine brands and rich heritage of Ruffino give us a much-desired place in the attractive Italian premium wine category, and we look forward to expanding the Ruffino brand's distribution, image and prestige.'
Recently Investindustrial, through DeaSat, sold its 11 per cent stake in the European satellite operator Eutelsat to European private equity firm Cinven for €337m.
Investindustrial is a mid-market specialist operating predominantly in Italy and Spain.
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