Italian fine wine powerhouse Marchesi di Frescobaldi has strengthened its Tuscan portfolio with the purchase of Corte alla Flora in Montepulciano.
The sale includes 60 hectares of vineyard land, 30ha of which are planted with Sangiovese, Merlot, Cabernet Sauvignon, Pugnitello and Petit Verdot. Frescobaldi has also acquired the 2019 and 2020 vintages from the estate in cask.
The financial terms of the sale were not revealed. The estate, which produces around 23,000 cases of wine a year, also has Syrah vines, but these are due to be grubbed up under its new owners.
“We are delighted to be able to make our own distinctive contribution to the reputation of this growing area,” said Lamberto Frescobaldi, president of Marchesi Frescobaldi, and a 30th generation family member of the Frescobaldi dynasty.
“We have made a commitment, with the passion that always characterises our activities, to further develop that unique character that marks the world-class Montepulciano denomination, with its stupendous and intriguing medieval borgo,” he added.
According to Wine Spectator, Corte alla Flora’s owner, businessman Sergio Cragnotti, who owns Società Sportiva Lazio football team, approached Frescobaldi to see if he would be interested in buying the vineyard property.
The deal was completed in less than two weeks and the Frescobaldi family took control of the property on 10 September.
“I started to work in Montepulciano, in 1985, it is a privilege to return to that prestigious denomination, where the Sangiovese grape creates such a classic yet one-of-a-kind terroir expression,” said Marchesi Frescobaldi’s winemaker, Nicolò D’Afflitto.
The purchase takes the company’s Tuscan portfolio up to nine, with Corte alla Flora joining: Castello Nipozzano (Chianti Rufina), Castello Pomino (Pomino), Rémole (Sieci), Tenuta Castiglioni (Montespertoli), Tenuta Perano (Gaiole in Chianti), Tenuta Ammiraglia (Maremma), CastelGiocondo (Montalcino) and Gorgona (on Gorgona Island).
Frescobaldi, who has begun the 2021 harvest at Corte alla Flora but has yet to settle on the blend, also owns Luce, and Super Tuscans Ornellaia and Masseto.
© 2021 Union Press Ltd | Wigglesworth House, Fourth Floor, 69 Southwark Bridge Road, London, SE1 9HH, UK Tel: +44 (0)20 7803 2420
Registered in England and Wales No. 03606414
Site by Redwire
It looks like you’re in Asia, would you like to be redirected to the Drinks Business Asia edition?
Yes, take me to the Asia edition No
We are using cookies to give you the best experience on our website.
You can find out more about which cookies we are using or switch them off in .
Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.
If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.