Masi Agricola bought with a 60% stake in Canevel
Masi has made a substantial investment (about 7 million euros) to buy a 60% stake in Canevel Spumanti, Società agricola Canevel and Canevel Spumanti Tenuta Le Vigne. The arrival of Masi Agricola in Valdobbiadene has not gone unnoticed: the takeover of the Treviso winery specialising in Prosecco DOCG includes about 26 owned hectares (15 of which are planted with vines) in the Valdobbiadene Superiore production area. Carlo Caramel, the son of the founder Mario Caramel, will remain at the winery as chairman of the board and brand ambassador, and retains the remaining 40% of the three companies.
Investing in Valdobbiadene
On the strength of the positive experience with Serego Alighieri in Valpolicella and Bossi Fedrigotti in Trentino, Masi Agricola has undertaken this new joint venture with confidence on previous models. With this investment, the Masi Group has increased their range of wines with a Valdobbiadene that is the driving force for the whole sector in Italy, and even more so abroad, but the declared aim is the growth of both brands. Canevel will benefit from the resources and expertise of an important wine group, with a highly-qualified distribution network.
Canevel: history and future
Founded in 1979 in Valdobbiadene, today Canevel has a turnover of about 4.2 million euros and an annual production of 800,000 bottles, made with grapes grown in their own vineyards or bought from local producers. Exports go mainly to Germany, USA, Switzerland, UK and Austria. Masi Agricola takes over from the historic partners: Carlo Caramel (who, as we have already said, retains a 40% stake), Tatiana Milanese, Silvia Caramel, Roberto De Lucchi and Roberto Covre. Together with the purchase agreement, a shareholders’ agreement has also been signed to define the corporate governance rules and how to divide ownership among the three companies.