Daily wine & cellar briefing.
Flash updates (Italy and the world) – 5–7 key points
- World production still below average, Italy returns to “top of the class.” Initial OIV estimates for 2025 indicate 232 Mhl (range 228–235), 3% vs. 2024 but ~7% below the five-year average due to repeated climate shocks. France is at its lowest since 1957, Spain at its lowest in 30 years, while Italy grows by around 8% and returns to the world’s leading producer .
- Italy: 2025 harvest growing but “warehouse full” Assoenologi–Ismea–Uiv estimate a harvest of 47.4 Mhl (8% vs 2024) , quality defined as good/excellent , which adds to estimated stocks of 36–37 Mhl in the cellar : the equivalent of almost two vintages at the start of the campaign, with pressure especially on IGP and generic wines.
- Prices: very differentiated grapes, still bulk but weak year-on-year
- Northern Italy grapes : in Piedmont (Cuneo Chamber of Commerce) Nebbiolo for Barolo is priced at €2.42–€2.71/kg , Barbaresco at €1.71–€2.16/kg , Moscato for Asti/Moscato d’Asti at €1.15–€1.21/kg , Barbera d’Alba at €0.90–€1.18/kg .
- Veneto/Lombardy : BMTI records a decrease vs 2023 for Amarone grapes (-13%), Valpolicella (-8%) and Prosecco Conegliano-Valdobbiadene (-9%), bucking the trend for 5% Franciacorta and 7% Lugana .
- Central-Southern Italy : price lists cited as of 12/10 show Sangiovese ≈26-30 €/q , Merlot/Cabernet ≈28-30 €/q , Sagrantino DOCG ≈100-140 €/q , often 30% year-on-year for some premium denominations.
- Bulk : ISMEA data indicate an average of €4.15–€4.50/hectograde for common reds and €5.36/hectograde for whites, stable week on week but, for some items, up to -20% vs 2024 ; at a global level, average bulk is €0.78/L (2.1% vs previous year) with weak trade .
- Exports & Demand: More Value Than Volume, Highly Polarized Trade The OIV report for 2024 confirms Italy, Spain, and France at 55% of global volumes and 63% of global value , with Italy returning to growth in 2024 ( 3.2% ABV, 5.6% value , driven by sparkling wine). At the same time , re-export hubs are emerging (≈13% of global exports), Champagne exports are declining (-9.2% in 2024) , and Australia’s premium market is seeing a strong rebound in China (41% export value, average price €23/L), amid declines in traditional markets.
- M&A: strong activity in premium and tech brands and US outlets. In Italy, 2025 will see Tenuta Ulisse (White Bridge) acquire Montevetrano (high-end Campania) after its acquisition of Cirelli, building a central-southern hub for premium wines; the Fantini Group (Platinum Equity) will acquire the Spanish company Venta la Vega ; in Piedmont, the Tellus project will invest ~€20 million, acquiring Cascina Alberta and Cascina Cà Rossa in the Langhe–Roero region; the Argea group will also become a US importer with the acquisition of WinesU . In the US , WarRoom Cellars will acquire the historic SIMI brand, while in Greece , Kir-Yianni will acquire Domaine Sigalas in Santorini.
- Rules & Labels: Increased Compliance and Digitalization, Risk of Fines Following the mandatory introduction of ingredients, nutritional values , and environmental information on packaging (end of the EU transition period), 2025 will see a stronger focus on digital labels (QR) and correct environmental labeling: specialist portals and a recent legal webinar remind us that errors can lead to fines of up to €25,000 , prompting wineries to completely revise their graphics, QR codes, and back labels.
- Awards & Innovation: Italy Highly Visible in Rankings, Wine Tourism & Tech Boom. Wine Spectator has published its Top 100 2025 (Italy is once again strongly represented, after GD Vajra’s 2020 Barolo Albe entered the Top 10 in 2024); Wine Enthusiast dedicates its “Top 100 Best Buys 2025” to 17 Italian labels (Saracco, La Raia, etc.), confirming their quality/price positioning. Meanwhile, the Performant Capital fund has entered Wine Suite , an Italian CRM already adopted by over 500 wineries, to create a global wine-tech platform; a Fine Italy survey reports that 77% of Italian wineries have invested in wine tourism in the last three years , and are planning further investments in sustainability and hospitality; on the green architectural front, the new Quinta de Adorigo in Douro (Portugal) is becoming a benchmark for a low-energy winery integrated into the landscape.
M&A Radar – Wine & Cellars (Focus on Recent Months)
| Deal / Rumor | Parts | Size (if known) | Geography | Strategic Note / Source |
|---|---|---|---|---|
| Ulisse Estate → Montevetrano | Tenuta Ulisse (controlled by White Bridge) acquires Montevetrano (Campania, icon-wine) | ND | Italy (Abruzzo–Campania) | Second acquisition in a few months (after Cirelli): construction of a premium center-southern hub, strong brand & terroir component. |
| Tellus Project Langhe–Roero | Investors led by Matteo Rusconi and Stefano Donna acquire Cascina Alberta and Cascina Cà Rossa. | ~ €20 million | Italy (Piedmont) | A highly focused real estate-wine operation involving two premium properties in the Langhe and Roero regions, focusing on improving the vineyards and cellar. |
| Fantini Group → Sell the Vega | Fantini Group (Platinum Equity) acquires Bodega Venta la Vega | ND | Italy → Spain | International expansion on Spanish DO, multi-country platform logic for Mediterranean wines. |
| Argea → WinesU | Argea acquires US importer WinesU | ND | Italy → USA | Export verticalization: from Italian manufacturer to direct importer in the key US market, channel and portfolio control. |
| Finance Project → Ronchi di Manzano | Progetto Finance (Giuseppe Tobia) acquires Ronchi di Manzano | ND | Italy (Friuli) | Acquisition of one of the most important wineries in the Eastern Hills, with strong land ownership and potential for repositioning. |
| WarRoom Cellars → SIMI | WarRoom Cellars Acquires Historic SIMI Brand from California | ND | USA (California) | A brand-driven operator that buys a historic brand to relaunch it with guerrilla marketing and premiumization strategies. |
| Kir‑Yianni → Domaine Sigalas | Kir‑Yianni acquires Domaine Sigalas | ND | Greece (Santorini) | Kir-Yianni’s first holding outside Macedonia strengthens its presence in the premium Assyrtiko segment and island wine tourism. |
| Performant Capital → Wine Suite | Performant Capital (USA) invests in Wine Suite (CRM for wineries) | ND | Italy ↔ USA | M&A tech: goal to create a global hub for wine CRM/marketing solutions by combining Wine Suite and OrderPort. |
Mini box “Prices & Harvest”
Harvest 2025 – Italy & the world
- Italy
- Estimated production 47.4 Mhl (8% vs 2024), medium-high quality, with some downward corrections possible in areas affected by heat and drought.
- Pre-harvest inventories ≈ 36–37 Mhl : the central theme for 2025-26 is stock management rather than production capacity.
- World
- OIV: 232 Mhl (3% vs 2024 but -7% vs 5-year average), third consecutive year below average for extreme weather events (drought, torrential rain, frost).
Grape prices – snapshot 2025
- Piedmont (Cuneo, €/kg) :
- Nebbiolo for Barolo 2.42–2.71 ; Nebbiolo for Barbaresco 1.71–2.16 ; Moscato for Asti/Moscato d’Asti 1.15–1.21 ; Barbera d’Alba 0.90–1.18 .
- Veneto/Lombardy (changes vs 2023) :
- Amarone/Recioto ‑13% , Valpolicella ‑8% , Prosecco Conegliano-Valdobbiadene ‑9% ; bucking the trend Franciacorta 5% , Lugana 7% .
- Central-Southern Italy (2025 price list examples) :
- Sangiovese ~26‑30 €/q , Merlot/Cabernet ~28‑30 €/q , Sagrantino DOCG ~100‑140 €/q , with increases of up to 30–50% vs 2023 in some niche denominations.
Bulk wine prices
- Italy – at the origin
- Common reds/rosés: ≈4.15–4.50 €/hectograde , stable week on week, with significant drops in some items compared to 2024 (even -20% ).
- Common whites: ≈5.36 €/hectograde , stable, with more limited corrections (-4% year-on-year).
- Global Bulk
- H1 2025: average price ≈0.78 €/L , 2.1% annually but with weak traded volumes: cautious demand, use of price more as a lever for customer selection than for volume growth.