Woodkirk Stone
Venture capital firm Made in Italy Fund has acquired Italian e-commerce site Xtrawine for an undisclosed amount.
The acquisition was announced on July 1 by Made in Italy Fund, a private equity fund created by Quadrivio and Pambianco.
The fund obtained the majority of the capital of Xtrawine, a digital company specializing in the sale and distribution of wine, present in Italy and Hong Kong and which has more than 8,000 wines in its portfolio.
The company doubled its turnover last year to 10.8 million euros, more than half of its turnover from exports.
Under its new owner, Xtrawine seeks to expand in Europe with the opening of commercial branches in Switzerland and the United Kingdom.
According to Pambianco’s analysis, the top five Italian wine e-commerce platforms by turnover are: Tannico, Vino.com, Bernabei, Callmewine and Xtrawine. The Roman company Bernabei saw its turnover increase from 10 to 26 million euros last year.
The company remains independent, just like Vino.com, although in 2017 it achieved a fundraising which resulted in a capital increase of € 1.5 million with the simultaneous sale of 30% of the shares to two funds. , Invitalia and Sici. Last year, Vino.com achieved 30 million euros in turnover, tripling its 2019 turnover.
Meanwhile, the Italian wine e-commerce platform Tannico has found itself in the orbit of the Campari group, which acquired a 49% stake in the company for 23.4 million euros last summer. .
This investment has paid off, with Tannico increasing its revenue from 20.3 million euros in 2019 to 37.3 million euros last year.
Italmobiliare, the holding company of the Pesenti family, owner of the Botter and Mondodelvino wine companies, has a 60% stake in Callmewine. Last year, Callmewine increased its turnover to 12.7 million euros from 6.6 million euros in 2019.