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The Spanish cava producer Codorníu has rejected a takeover bid by the US investment company Carlyle Group. The largest private equity company in the USA wanted to acquire a majority stake in the well-known Cava house. The purchase price offered is not known. The 216 shareholders, all family members, showed themselves willing to negotiate, but only want to sell the minority to Codorníu.
However, some family members are apparently willing to sell their shares. An internal restructuring with a new managing director and a changed supervisory board should help to increase the value of the brand with prestige labels. Codorníu recorded sales of around 236 million euros and a profit of eleven million euros in the last financial year (June 2017). Whether the Carlyle Group is interested in a minority stake is still open.
(uka / Photo: Codorníu)