July 2008: Corporacción CAN, the Investment arm of the Spanish savings bank Caja de Ahorros de Navarra, acquires the Spanish wine producer Bodegas de Crianza de Castilla la Vieja, owner of the Palacio de Bornos brand, leader within the Designation of Origin Rueda, and owner of wineries also in the Designation of Origin Ribera del Duero and Toro. The equity value of the transaction (100% of the shares) is € 26.5 millions. Corporacción CAN effects the acquisition through its wine company Bodega de Sarría, owner of Señorío de Sarría, one of the leading trademarks of quality wines in Navarra.
This acquisition is intended to be a first step in the creation of a leading group within the wine producing sector in Spain. The group currently has revenues of more than €14 millions in 2008, a presence in four of the main wine producing areas of Spain (Navarra, Rueda, Ribera del Duero and Toro) and more than 400 hectares of vineyards with a wine production of more than 5 million kilos of grapes per year.
SOCIOS advises Corporacción CAN on the analysis of the market, identification of potential target companies and in the negotiation and closing of the transaction.