Paternina sells historic brand and cellars

15th April, 2014 by Gabriel Stone

Bodegas Muriel has announced its purchase of fellow Rioja producer Paternina’s winery in Ollauri, together with the building’s stocks and flagship Conde de los Andes brand.

Conde de los Andes, OllauriAccording to Muriel, the Conde de los Andes stock amounts to 250,000 bottles of reserva and gran reserva wines, although it described the “core asset” as the building’s calado, a 600m long network of cellars dug into the hillside.

Constructed during the 16th and 17th centuries, the cellars underwent a full refurbishment in 2005. This formed part of a wider investment in Paternina by the Eguizábal family, which bought the La Rioja Alta producer in 1984, although 1998 saw 27% of the company’s shares floated on the Spanish stock exchange. Paternina SA also produces wines in Ribera del Duero and Jerez.

conde_de_los_andes_vino_grande_2_enExplaining the motivation behind this deal, which took place for an undisclosed sum, Muriel described its purchase as offering “opportunities of a great interest in the fields of wine tourism, communication and sales.”

This acquisition sees Conde de los Andes join a group that currently produces an average of 12 million bottles per year, with a €35m turnover. Other brands in the portfolio include Eguia, Real Compañia de Vinos and Marqués de Elciego, Based in the Rioja Alavesa town of Elciego, the Bodegas Muriel group owns 100 hectares of vineyard.

 

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe to our newsletters

Job vacancies

UK Brand Ambassador - That Boutique-y Gin Company

That Boutique-y Gin Company
Tunbridge Wells, Kent, UK

Senior National Account Manager – Grocery (Craft Spirits)

Maverick Drinks
Tunbridge Wells, Kent, UK

Senior National Account Manager – Wholesale RTM (Craft Spirits)

Maverick Drinks
Tunbridge Wells, Kent, UK

Digital Marketing Manager

Master of Malt
Tunbridge Wells, Kent, UK

Experienced On Trade Sales Person

Borough Wine Imports
London, GB

3 x Business Development Executive

The Lakes Distillery Company Limited
Newcastle head office and nationwide, UK

Editor

Master of Malt Ltd
Tunbridge Wells(Kent)

Sales Account Manager - On-Trade

Berkmann Wine Cellars
Liverpool

Brand Manager

Hallgarten Druitt
Luton, UK

Experienced On-Trade Salespeople Required

Portal Wines and Spirits
London, UK

Purchasing and Sales (Wine Trader)

JF Tobias
London, UK

Sales Account Manager - On-Trade

Berkmann Wine Cellars
Cambridge / Peterborough / Bedfordshire, UK

The Global Merlot Masters 2017

Deadline : 17th April 2017

db Awards 2017

Deadline : 28th April 2017

The Global Organic Masters 2017

Deadline : 14th April 2017

The Global Sparkling Masters 2017

Deadline : 12th May 2017

Click to view more

Global Chardonnay Masters 2016

Now in its fourth year, the competition will identify the best Chardonnay from all around the world in every price range.

Rioja Masters 2016

Now in its fifth year, the competition will recognise and reward the finest Riojas on the world stage.

Fortified Masters 2016

Now in its third year, The Fortified Masters will reward the best fortified wines on offer.

The Global Malbec Masters 2016

the drinks business is proud to announce the inaugural Global Malbec Masters 2016.

Click to view more