Conterno takeover of Nervi: confirmation of Alto Piemonte high qualitative Nebbiolo terroir
Posted on: 10-02-2019 om 06:52:13
| Karina Imschoot
Roberto Conterno, owner of the world-famous Giacomo Conterno estate in Barolo, has acquired a 90% stake in Nervi, the historical producer of Alto Piemonte. The news of the acquisition of a majority stake in the 27-ha estate with interests in some of the main vineyards of Gattinara at a reported price of € 5 million came at an unexpected time, but not as a surprise.
Before Erling Astrupact acquired Nervi in 2011 in what was supposed to be a distressed sale, he had asked Conterno to inspect the estate. Conterno confirmed that it would be impossible not to make great wine there. It is believed that Conterno's investment will guarantee a new vinification, bottling and maturation installation for Nervi.
Astrup had already expressed his dismay at the fact that although Alto Piemonte has a much longer history in cultivating Nebbiolo, here called Spanna, than Barbaresco and Barolo, at that time no Langhe producer had shown interest in buying the historic estate Nervi.
Now, with land prices in Langhe getting out of hand, especially in Barolo, Conterno's move will certainly be followed by other, similar ones.
Conterno was in the news in 2015 when he acquired 9 ha Arione, considered a top cru and bordering on his famous Francia cru. Because of the Italian law of first right of first refusal, Conterno Arione has snatched away from the American Krause family who in quite aggressive way started buying quite a few vineyards in Langhe including the Vietti estate. Although Conterno was praised for rescuing Arione from foreign ownership, the acquisition, which cost an estimated 10 million euros, led to a frenzy of speculation in land prices in Barolo, which has only increased since then.
Conterno is the first Barolista to invest in Alto Piedmont. The question is asked why the younger generation in particular, who now cannot buy land of interest in Barolo and Barbaresco, has not yet realized that only 75 miles north of Alba a wealth of Nebbiolo vineyard on some of the most complex lands of Italy can be found for a fraction of the price currently being asked in the Langhe.7
Would you like to be part of our master class of Nervi and other producers "live" present with streaming from Alto Piemonte? Please send an email to our address so we can send you an invitation. Dates are 23 March and 26 April 2019
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