Historic Rioja brands to go under the hammer in insolvency auction
Some of Rioja’s best-known wine brands, including Federico Paternina and Lagunilla, are set to be sold in an online insolvency auction later this month.
Several of Spain’s most recognisable Rioja wine brands are to be auctioned as part of the insolvency process involving companies linked to the Marqués de la Concordia group.
The online sale, managed by IAG Auction, will run from 27 to 29 July and includes Federico Paternina, Lagunilla, Marqués de la Concordia and Rioja Santiago.
Unlike a traditional winery sale, the auction concerns the commercial trademarks rather than vineyards, wineries or production facilities, offering buyers the opportunity to acquire established brands with decades of consumer recognition.
Brands with international reach
According to IAG Auction, the portfolio generated normalised Rioja sales of €18.49 million between 2019 and 2021.
Federico Paternina accounted for around 52% of sales during the period, followed by Lagunilla with almost 29%.
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The brands also have an established export presence, with 41% of historical sales coming from overseas markets. Nordic countries represented almost 28% of export sales, while Central Europe accounted for just under 22%.
Appeal for strategic buyers
The auction is expected to attract established wine companies, distributors and investment groups seeking immediate access to recognised brands and established export channels rather than developing new labels from scratch.
José María Méndez, project manager director at IAG Auction, said acquiring established brands could accelerate market positioning thanks to their long trading history and international recognition.
The trademarks will be sold free of encumbrances unless a successful bidder chooses to assume any existing obligations voluntarily.
Continued evolution in Rioja
As previously reported by the drinks business, Rioja has continued to evolve its identity in recent years. Earlier this year, the European Union formally approved the region’s viñedos singulares geographical indication, recognising single-vineyard sites and marking another step in Rioja’s long-running shift towards greater emphasis on terroir and provenance.
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