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The luxury group LVMH is apparently preparing to take over the renowned Brunello winery Castello Banfi in Montalcino. This was reported by the Italian "Wine News". According to the news, the owners have been in negotiations with representatives of the group for eight months.
The winery owns almost 3,000 hectares of land, about a third of which is planted with vines. The vineyards are located in Montalcino, Bolgheri, Piedmont and Chianti Classico. The wines from there are exported to 85 countries. In 2018 the winery achieved a turnover of around 68 million euros. The company also owns olive groves, woodland, a boutique hotel and a top restaurant.
LVHM has already acquired a majority stake in the famous Biondi-Santi winery in 2017. It is not yet clear when the takeover will be completed.
(uka / Photo: I. Franchini)