Vintae completes Bodegas Riojanas acquisition
Vintae has completed its acquisition of Bodegas Riojanas after the registration of the winery’s restructuring plan, giving the Rioja-based wine group a 90% stake in the historic producer.
Vintae has completed its acquisition of Bodegas Riojanas after the registration of the winery’s Restructuring Plan with the Commercial Registry, formalising the entry of its holding company, Gevisa Wine Capital, as the majority shareholder.
The registration follows approval by Commercial Court No. 6 of Logroño and completes a process that began in May. Bodegas Riojanas will retain its status as a publicly listed company, with its shares continuing to trade on the Spanish continuous market.
Under the Restructuring Plan, Gevisa Wine Capital has acquired a 90% stake in Bodegas Riojanas through a capital reduction followed by a simultaneous capital increase via the capitalisation of debt.
The transaction represents a €12 million investment by Gevisa Wine Capital, following an agreement with the financial institutions that adhered to the Restructuring Plan. Vintae will also provide Bodegas Riojanas with a financing facility of up to €5 million to support the next phase of the business.
Board changes
The registration of the Restructuring Plan also brings changes to the board of Bodegas Riojanas.
Ricardo Arambarri Pérez has been appointed chairman, while Fernando Martínez Sampedro becomes chief executive officer. Isabel García Castellanos and Raúl Acha Salazar have joined the board as proprietary directors.
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The company said two independent directors will be appointed in September in line with regulations governing publicly listed companies.
The deal has now entered its final administrative phase, which involves the admission to trading of the newly issued shares before the Spanish National Securities Market Commission (CNMV). According to the company, this process will not affect either the effectiveness of the transaction or the day-to-day operations of Bodegas Riojanas.
Expanding Vintae’s portfolio
The acquisition adds several wineries and assets to the Vintae portfolio, including Bodegas Riojanas in Rioja, Bodegas Torreduero in Toro, Bodegas Viore in Rueda and a 56% stake in Veiga Naúm in Rías Baixas, together with their production assets, vineyards, facilities and commercial brands.
Founded in 1890, Bodegas Riojanas owns brands including Monte Real and Viña Albina. Vintae said the transaction marks the beginning of a new chapter for the winery, supported by a strengthened financial structure and the backing of a group with a commercial presence in Spain and more than 70 countries worldwide.
The company added that it will define Bodegas Riojanas’ medium- and long-term development plan while reviewing the positioning of the group’s companies and brands and gradually integrating processes, systems and management models.
Richi Arambarri, CEO of Vintae, said: “This transaction represents another important step in Vintae’s evolution. Over the past few years, we have built a company with projects that are deeply rooted in their territories, supported by a solid business structure and strong commercial capabilities. That journey is what now enables us to take on a project of this scale with confidence and responsibility.”
He added: “We begin this new chapter with the utmost respect for the identity of Bodegas Riojanas and with the conviction that we can help drive its future while preserving the value of its history and its brands.”
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