Germany's Oetker takes stake in Spanish sparkling wine producer | Progresiv
Germany’s family-owned Oetker Group has struck a deal to buy 50.67 percent of unlisted Spanish sparkling wine producer Freixenet S.A. and signed a cooperation agreement with the remaining shareholders. Financial terms were not disclosed in a joint statement on Saturday, but details of the partnership, led by Oetker’s alcoholic drinks subsidiary Henkell & Co., will be published at a later stage, the companies said. 
Spanish newspaper La Vanguardia cited unidentified sources as saying Henkell paid just under 220 million euros (270 million dollars) for the stake.
Freixenet, founded in 1861, is Spain’s largest beverages exporter and the world’s biggest producer of cava sparkling wine. It has subsidiaries in 19 countries, including the United States, Argentina, China and Australia, and exports its brands to 109 countries.
“In Henkell we have found a strong partner with a long-term strategy which will significantly strengthen Freixenet and help us to maintain our identity and tradition - with an even stronger international presence in the future,” said Jose Luis Bonet Ferrer, president and co-owner of Freixenet.
Freixenet, based close to Barcelona in Catalonia, warned in October it had been hit by a boycott by consumers in the rest of the country in response to Catalonia’s secessionist push.
Henkell said as long ago as 2016 it was in talks with Freixenet over a collaboration deal. (www.reuters.com)
