US-based  Krause Holdings has acquired Vietti, an Italian wine company located in the town of Castiglione Falleto in Barolo.

Krause Holdings is the parent company of the Kum & Go convenience store chain in the US.

Financial details have not been divulged by both the companies.

"From our standpoint, we’re looking for a long-term relationship between our family and the Vietti family."

Italian news website La Stampa reported that the deal is likely to be around €50m.

This transaction includes the Vietti brand, winery and 84 acres of vineyards, reported Wine Spectator.

Vietti CEO Luca Currado will continue in his existing role.

Krause Holdings will not actively participate in everyday operations of the winery, rather, it will be involved only in making company strategies.

This is the second acquisition of Krause Holdings.

In 2015, it purchased Enrico Serafino winery, inventory and vineyards from Gruppo Campari.

Kum & Go owner Kyle Krause was quoted by thedrinksbusiness.com as saying: “From our standpoint, we’re looking for a long-term relationship between our family and the Vietti family.”

Vietti wines commenced production in 1919. Kum & Go has over 430 convenience stores in the US.