Mondavi to Buy Italian Wine Estate
Reuters
Robert Mondavi Corp., which holds a minority stake in Tenuta dell’Ornellaia, said it plans to buy the remaining shares of the Italian wine estate for an undisclosed amount.
Imported cases of Tenuta dell’Ornellaia wines will add about 8,000 cases to Mondavi’s case volume and about $3 million to the company’s revenue, Mondavi said.
Last year, Mondavi sold nearly 10 million cases and had revenue of more than $500 million.
Shares of Mondavi rose 28 cents to $37.18 on Nasdaq.
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