Carlyle, the owner of Raventós Codorníu, has hired financial advisors to help review “strategic options” around its controlling stake in the Spanish sparkling wine producer.
The US-based private equity group is working with Morgan Stanley and Banco Santander to advise on the future of its 68% holding in Codorníu. A spokesperson told Global Drinks Intel that “a potential change in shareholder structure could be one of the scenarios under consideration”.
Carlyle acquired its controlling stake in Spain’s oldest sparkling wine company in 2018, valuing the company at the time at EUR390m (then US$451m).
In Codorníu’s most recent fiscal year (2023-2024), the business booked EUR232m (US$268m) in sales and EUR39m in EBITDA. The group is expecting annual operating profits of around EUR50m “in the near term”.
“The company is now more agile, flexible, sustainable and competitive,” said Codorníu CEO Sergio Fuster. “We’ve professionalised our management, diversified our brands and channels and are better prepared than ever to enter a new phase of profitable growth.”
Last month, the winemaker launched a range of 8%-ABV sparkling and still wines as “demand for low-alcohol beverages continues to gain momentum”.
