June 2014: The investment vehicle ARINSA increases its shareholding in CVNE.
Founded in 1879 in city of Haro (La Rioja), Compania Vinicola del Norte de España («CVNE») is one of leading growers in the Rioja wine region with an annual volume of 13 million bottles every year, which are typically sold into the domestic market. The brand has recently initiated an ambitious program of expansion into other high value added markets, notably the United Kingdom, France and Japan.
CVNE shareholders historically have included the Urrutia family, Torreal Group and two other founding families of Real de Asúa, one of which decided to dispose of its interests in the CVNE in 2014. The divestment was achieved by virtue of an orderly restricted sales process aimed at investors which could be expected to contribute to the company’s future development. Following this process, José Ignacio Comenge, through his investment vehicle ARINSA, increased his shareholding in CVNE to 13.5% and became a member of the Board of Directors of the company. Thus, the shareholder base of the company is strengthened and the international expansion plan for the company is assured.
SOCIOS FINANCIEROS advises the selling shareholders in the design, execution and closing of the transaction.