Henkell, which is Dr. Oetker’s drinks division, has acquired slightly more than half of cava brand Freixenet’s shares. Following two years of negotiations, both companies struck a deal, even though the German food giant will not reign supreme at Freixenet.
Half of Freixenet
Dr. Oetker was apparently willing to spend 220 million euro to acquire half of Spanish cava brand Freixenet’s shares according to De Tijd. Both the Hevia and Bonet families approved the deal and have now sold their 50.7 % stake to German Henkell. It took two years of negotiations with the five founding families. According to Barcelona-based paper La Vanguardia, it took so long because of Catalunya’s political climate and the death of one of the cava brand’s owners.
Dr. Oetker is Freixenet’s majority shareholder from now on, but it failed to acquire it fully. The Germans will have to deal with the Bonet clan (7.3 % of shares) and current chairman José Ferrer, who still owns 42 % and wants to have his say on the future of the cava brand as well.
Freixenet is one of the world’s largest cava manufacturers, with locations and vineyards in South America, Australia and even in France’s Champagne region. It sells more than 200 million bottles every year and generates a 500 million euro turnover.