The Angelini family is likely to have more trouble choosing what bottles to uncork during the holiday season, as it recently acquired family business Bertani, a Veneto-based wine maker famous for its amarone, valpolicella and recioto wines.
The acquisition expands the portfolio of Tenimenti Angelini, the winery arm of the family company Angelini Group, which produces wines such as chianti, brunello di Montalcino and montepulciano.
Tenimenti Angelini bought 70% of Bertani, but the purchase price was not revealed.
Bertani’s chairman, Emilio Pedron, will keep his position, as Angelini plans on maintaining the Veneto-based winery's current management.
"Basically the ownership passes from one private family to another," Gian Matteo Baldi, commercial director of Bertani, said in a statement.
The Angelini family made its fortune with the Angelini Group, one of Italy's biggest pharmaceutical companies. In 1994, the family decided to invest in wineries and now owns 766 acres of vineyards in Tuscany, Marche and Friuli.
Bertani was founded by brothers Giovan Battista and Gaetano Bertani in 1857. Today, the company produces about two million of bottles every year and expects revenues of €12 million in 2011, up 15% from last year.