Stock Spirits Group, an owner and producer of premium branded spirits and liqueurs that are principally sold in Central and Eastern Europe and Italy, agreed to acquire Distillerie Franciacorta, a producer of grappa, liqueurs and Franciacorta - a premium Italian sparkling wine. The purchase price is up to €24m for the business with a further €3m for the land, payable in cash in three tranches. Stock Spirits will also acquire Franciacorta wine brands, although all aspects of the wine manufacturing will be retained by the vendor. As part of this transaction, Stock Spirits will also take a long-term lease of the historic Borgo San Vitale site, the distillery and visitor-centre that is an integral part of Distillerie Franciacorta's heritage. "We are delighted to be acquiring Distillerie Franciacorta, which is a business with a fantastic heritage and outstanding brands. This is a truly compelling opportunity that we have been looking at for more than a year now, and we see clear and attractive synergies with our existing Italian operations. Distillerie Franciacorta's deep expertise in local, premium products resonates strongly with Stock Spirits' wider strategy of investing in well-loved national brands with genuine and high quality provenance," Mirek Stachowicz, Stock Spirits Chief Executive.