FRESCOBALDI BUYS ORNELLAIA

Published: 23 July, 2008

Following the recent acquisition by Frescobaldi of 50% of the shares of Luce della Vite, which Constellation Brands had bought from Mondavi, Marchesi de' Frescobaldi has announced it has now purchased from Constellation the remaining half of the shares of Ornellaia, which had also been Mondavi's.

Frescobaldi is thus now 100% owner of the prestigious 91-hectare Bolgheri property founded in the 1970s by Lodovico Antinori, of the family of Frescobaldi's greatest rivals, Marchesi Antinori.

Ornellaia's mission is to produce unique wines that reflect the extraordinary terroir of Bolgheri,' commented Vittorio Frescobaldi, president of Marchesi de' Frescobaldi. With the success of the operation, we will be able to guarantee the continuity of this mission, reinforcing Ornellaia's position as a producer of internationally acclaimed wines.

We have full confidence in the existing management team who will continue to contribute to the success of Ornellaia.' Terms of the transaction were not disclosed.

By Nicolas Belfrage MW & Franco Ziliani

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