Codorníu rejects takeover bid from Carlyle Group

20th April, 2018 by Lauren Eads

Cava producer Codorníu has rejected an offer from US investment fund the Carlyle Group to take a majority stake in its business, but is open to an approach from a potential minority partner.

Codorníu cellars

Codorníu rejected an offer for a majority stake in the company by Carlyle last week. The Carlyle Group most recently bought Australian wine giant Accolade for AU$1 billion (£548 million), meaning that the value of the company has more than trebled since 2011, when it was bought by former owners Champ.

While its advances of a takeover bid for Codorniu were passed over, the Cava producer has said that it is open to a minority stake partner.

Some of the company’s shareholders intend to sell their….

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2 Responses to “Codorníu rejects takeover bid from Carlyle Group”

  1. Charles Crawfurd says:

    The curse of family owned companies when the shareholding gets spread too widely and there are too many shareholders who have no long term interest in the business. Seems to me Carlyle should focus on absorbing Accolade successfully into their group befoe buying anyone else. We have just witnessed the spectacular collapse of Conviviality that grew rapidly and collapsed even faster. We don’t need another one of those thank you!

  2. Paul Jones says:

    Hi Charles, surely Cordornui issues run a lot deeper commercially with more and more consumers buying value Prosecco from the supermarkets and the on trade pumping out draught Frizzante by the gallons. Has their mistake been to take on the lower end of the market who predominantly use tank method, when they should have been challenging the secondary fermentation Champagne houses who are always resolute on premium quality and price, no matter how poor the harvest. If you have an established business since 1551 surely you shouldn’t bail out so readily. Clearly, their business has survived all manor of historical events, NO……don’t tell me it’s Brexit related! I have always been a big Cordornui fan and would be sad to see yet another family business having to sell out.

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