Sogrape Expands to Spain, Buying Bodegas LANApril 6, 2012
Portugal’s largest wine company is expanding to Spain, reports Wine Spectator. Sogrape has announced that it has purchased Bodegas LAN, a Rioja producer known for high-quality wines. The purchase price wasn’t disclosed, but reliable sources estimate that it’s between $60 million to $72 million. With the sale, Sogrape becomes one of the five largest wine companies, by volume, on the Iberian peninsula.
Sogrape owns several prominent brands, including Mateus Rosé and Barca Velha, as well as Port lodges Ferreira, Offley and Sandeman. Founded in 1942, it moved abroad in 1997, buying Argentinean winery Finca Flichman. Today it also owns wineries in Chile and New Zealand.
Bodegas LAN was founded in 1972 and is currently owned by private equity firm Mercapital. Headquartered in Fuenmayor, in Rioja Alta, the winery specializes in red wines and produces almost 400,000 cases annually. It made $24 million in revenue last year. With 260 acres of vineyards, LAN produces wines from Rioja, Rías Baixas and, more recently, Rueda and Ribera del Duero. Rioja wines represent 90% of production. The winery has been included in Wine Spectator’s Top 100 list twice.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.