EPI acquires majority stake in historic winery, Biondi Santi, Italy.

French luxury group EPI and the Biondi-Santi family of Italy have signed an agreement in which EPI acquires a significant stake in the historic Biondi-Santi winery in Montalcino, Tuscany, and creates a financial and strategic partnership to develop the brand. The price and details of the transaction were not disclosed. The deal was finalized on Dec. 16.

"I have been working on this partnership for a year," Jacopo Biondi Santi told Wine Spectator magazine. "It's a partnership between France and Italy, between Champagne and Brunello. "

Owned by the Descure family, EPI acquired the Champagne houses Charles Heidsieck and Piper-Heidsieck in 2011.

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EPI president Christopher Descourt described the partnership as a unique opportunity to accelerate international development''s major shareholders. Their shares were acquired as part of the new agreement, according to Jacopo. "Although EPI is acquiring a majority stake, the Biondi-Santi family remains a shareholder," Descourt said. "It is important to us that each party plays a role in developing Biondi-Santi's reputation and excellence. EPI will help Biondi-Santi from a business perspective, while Jacopo and Tancredi will also be actively involved in overseeing the vineyards, winemaking and acting as brand ambassadors." Currently, Biondi-Santi does not have an importer in the United States. However, the new partnership plans to resolve this issue by mid-2017.