Codorníu Raventós in exclusive negotiation with Carlyle Group

The Spanish group Codorníu Raventós has entered into exclusive negotiations with the Carlyle Group, according to The Drinks Business.

Earlier in the year, Carlyle Group bought Accolade Wines for AU$ 1 billion and is now interested in Codorníu Raventós, which was publicly known to be for sale.

“This agreement will help boost the company overseas and consolidate and give continuity to our strategy, centred on building valuable and prestigious brands,” said Mar Raventós, chairwoman of Codorníu.

“After analysing our various options, we have reached a consensus, agreeing on a solution which has a lot of potential and takes a long-term view on leadership for the company.”

The deal with Codorníu is expected to close at the end of the year, subject to regulatory approvals.