Eataly owner Oscar Farinetti acquires historic Barolo producer Fontanafredda

According to a report published last week at FocusWine.it (the online “portal” of the trade publication Corriere Vinicolo), “the high-end super market group Eataly” has become the “major share holder” in the historic Fontanafredda winery, one of the oldest producers of Barolo and one of the appellations largest.

On June 12, wrote journalist Luciano Scarzello, an agreement was reached between the Fondazione Monte dei Paschi di Siena (one of Italy’s major banks) and the supermarket group. While Monte dei Paschi retains 36% of shares, Eataly’s founder, owner, and president now owns 32%, with the remaining 32% owned by his advisor and partner Luca Baffigo Filangieri.

Earlier this year, Farinetti became the major share holder in another historic but much smaller producer of Barolo, Borgogno.

In 2007, Fontanafreda “reported gross earings of 34 million euro, with 80 hectares under vine in the province of Alba. It produces 6.4 million bottles of wine every year, of which 60% are sold in Italy.”

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