Just Waiting for the Official Announcement. It seems to be only a matter of days now, but the rumors are growing stronger and more persistent: Frescobaldi appears to be preparing to land on Mount Etna. And they would do so by acquiring one of the leading wineries on the volcano—Tenuta delle Terre Nere, the renowned estate founded by Marco de Grazia and based in Randazzo, on the northern slope of Etna. If confirmed—and sources suggest it’s just a matter of time—this would undoubtedly represent the acquisition of the year, at least from Montalcino southwards.
Talks have reportedly been ongoing for several months (we previously reported on it: Etna Is Not for Everyone). Informed sources say Lamberto Frescobaldi visited Marco de Grazia on Etna last September, during a trip to Sicily that coincided with the G7 Agriculture Summit in Syracuse. It was a quick visit, but one that might have sealed the framework for the deal. Financial details of the operation remain undisclosed, and there’s still a veil of secrecy around the entire transaction. However, insiders speak of a figure in the double-digit millions (possibly over €20 million?). According to the same sources, Frescobaldi wouldn’t acquire 100% of the company—at least not at this stage—but would purchase a significant share. Marco de Grazia would remain at the helm of Tenuta delle Terre Nere for three years to oversee operations. After that, the future remains open.
The deal includes over 40 hectares of prized vineyards located in some of the volcano’s most prestigious zones, a production of about 250,000 bottles, a top-tier average price per bottle, and a winery equipped with everything needed to produce high-quality wines. De Grazia (don’t bother looking for him at Vinitaly in Verona these days—he hasn’t attended for years, though his team is present at the company’s stand) arrived on Etna around 25 years ago and was among the first to grasp the extraordinary biodiversity of the volcanic soils. He carved out a niche by producing a wide array of wines that, in some ways, emulate the spirit of Burgundy. His wines—especially the reds—are known for their elegance and allure, with an outstanding reputation in global markets.
To speak of Tenuta delle Terre Nere is to reference a powerhouse brand built by one of the most visionary wine producers in the business: Marco de Grazia. Born in Washington, educated in California with a degree in Comparative Literature, De Grazia—who turns 73 this coming September—is a member of the Etna DOC consortium board and has split his life between Italy and the United States. He is also credited with creating the Barolo Boys phenomenon, which in the 1990s brought a wave of innovation to the Langhe and opened up enormous commercial opportunities in the U.S. for Barolo, thanks to a wine import business that would go on to represent many prestigious Italian labels globally. In short, a true wine insider with deep knowledge of both wine and international markets.
This potential acquisition is yet another confirmation of Etna’s remarkable appeal to some of the world’s most respected wine producers—despite those who claim the region is now entering a mere phase of consolidation. The arrival of Marchesi Frescobaldi would add even more prestige to a list of elite producers that few other Italian territories can rival. Over the past decade, many major names have established a presence on Europe’s highest volcano: from Angelo Gaja (whose entry was first reported here eight years ago), to Oscar Farinetti; more recently, Tommasi from Verona acquired land, and earlier on, the likes of Andrea Franchetti and Frank Cornelissen arrived almost concurrently with De Grazia.
All of this, however, builds on the pioneering groundwork laid with extraordinary vision by Salvo Foti and Giuseppe Benanti at the end of the 1980s. For Marchesi Frescobaldi, this move to Etna would not go unnoticed. One of the most globally renowned wine brands, with estates and labels across Tuscany, Friuli, and more recently Oregon in the U.S., now possibly adding Etna to its portfolio. The group is led by Lamberto Frescobaldi, 62, a member of a centuries-old winemaking dynasty and currently President of the Unione Italiana Vini.
In addition to their Chianti estates, Marchesi Frescobaldi boasts holdings like Ornellaia and Masseto in Bolgheri, Tenuta Luce in Montalcino, Attems in Friuli Venezia Giulia, and Roy in Oregon. Altogether, these brands generate a combined revenue of around €170 million, based on the latest figures. And now, Etna may be next. Time will tell. (Article published on April 6, 2025, at 1:35 PM)