Report: Sparkling Wine Giant Freixenet On The BlockApril 13, 2016
Freixenet, one of the largest sparkling wine companies both in the U.S. market and globally, is in play, according to Reuters and news reports out of Spain. Reuters reported earlier today that “a source close to the producer” said Freixenet had received a buyout offer. Meanwhile, Spanish news outlets are saying that Germany’s Henkell—also a force in sparkling wine—is in talks with Freixenet after making an offer of more than $500 million for the 155-year-old privately-owned Spanish company.
Jose Ferrer and his four children currently control 42% of the capital of Freixenet while another branch of the family, the Hevia Ferrer brothers, control 29%. A third family unit, the Bonet Ferrer, own another 29%, according to Reuters. According to Spanish news reports, the owners are split on the decision to sell.
Freixenet’s flagship cava brand sells nearly 7 million cases worldwide, according to Impact Databank, and has long been one of the top-selling imported sparklers in the U.S., where it’s handled by Freixenet USA. Freixenet’s annual U.S. sales surpassed 1 million cases in the mid-1980s, but in recent years, the brand has hovered around 550,000 cases.
The Sonoma-based Freixenet USA also markets Segura Viudas Cava (around 225,000 cases), California sparkler Gloria Ferrer (80,000 cases), Australian table wine Deakin/Faldo (25,000 cases) and Spanish table wine Rene Barbier (50,000 cases), among other brands.
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