The agreement, said Sandro Cavicchioli, president of Cavicchioli group, is intended to preserve “continuity” and to further “develop the historic brand and its products.”
The Cavicchioli family, he added, will continue to produce sparkling wines at its Bellei winery in Sorbara (Emilia-Romagna) and its Castelfaglia winery in Franciacorta (Lombardy). It will also continue to grow grapes in estate-owned vineyards in Emilia-Romagna for wines to be bottled under the Cavicchioli brand name.
Founded in 1928, the historic Cavicchioli winery group sells more than Euro 25 million worth of wine every year, 25% of which is destined for foreign markets.
The move by GIV, which purchased sparkling wine producer Carpenè Malvolti in April 2010, marks yet another landmark acquisition in its expansion into the sparkling wine category.