Stock Spirits Group PLC (LSE:STCK) signed an agreement to acquire Distillerie Franciacorta Spa for €26.5 million on January 31, 2019. As part of the acquisition Stock Spirits Group PLC will also acquiring land for the construction of a new production facility for €3 million. Payment will be made in cash in three tranches consisting of an initial payment of €3 million upon signing, a further €21.5 million payable at completion, and up to €2 million deferred consideration payable over a four-year period. It will also acquire the prestigious 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-center that is an integral part of Distillerie Franciacorta's heritage. Stefano Gozio, one of the selling shareholders of Distillerie Franciacorta and a member of the founding Gozio family, will continue to act as a brand ambassador and consultant to Distillerie Franciacorta. Distillerie Franciacorta recorded sales of €9.7 million for the year ended December 31, 2018. The deal is conditional upon consultation with trade unions as well as certain restructuring steps. The deal is expected to close in the second quarter of the year. As of May 14, 2019, transaction is expected to be completed in June. Alberto De Falco Gianluca Cinti, Michele Preda, Jacopo Nardelli , Rita Tardiolo, Giulia Brambilla, Davide Biasotti and Francesco Barbieri of Bird & Bird served as legal advisor to Stock Spirits on the transaction.