German sparkling powerhouse Henkell & Co has signed an agreement to acquire 50.67% of Freixenet S.A.’s shares. Henkell has also signed an international cooperation agreement with José Ferrer Sala and José Luis Bonet Ferrer, the remaining shareholders of the Spanish cava giant.
“Over three generations, we have made Freixenet the world’s leading producer of cava,” said José Luis Bonet Ferrer, president of Freixenet S.A. said in a statement. “In Henkell we have found a strong partner wth a long-term strategy.”
The Henkell & Co Group, based in Wiesbaden in Germany, is an international wine and spirits producers with subsidiaries in 21 countries. The company is part of the Oetker Group, one of Europe’s largest companies, which has alcohol, food and banking divisions.
“The Oetker Group consequently continues the expansion of its areas of business,” said Dr Albert Christmann, general partner of Dr. August Oetker KG in the same statement. “With the acquisition of the shares of Freixenet we will strengthen the international market position of our sparkling wine, wine and spirits division significantly, while at the same time we build up a solid base for sustainable joint growth in that business.”
Information about the financial details of the transaction have not been revealed, although the German media has suggested that the purchase price will be around €220m, after negotiations that took more than two years to complete.
While Freixenet brings one of the world’s leading cava brands to the table, Henkell brings the Prosecco Mionetto along with Germany’s most exported sparkling wine, Henkell Trocken. The deal will offer each partner new routes to market and new distribution channels.
Founded in 1914, Freixenet claims to be Spain’s largest beverage exporter and global cava market leader.
The acquisition of the shares is subject to approval by the antitrust authorities. The agreement was announced on 17 March 2018.