CVNE (Compañía Vinícola del Norte de España) is expanding its presence with the acquisition of wineries in other Designations of Origin. The company, which will celebrate 140 years in the business this year, has, for the most part, remained relatively contained… until now.
Run by the 5th generation of the family, they’ve now set their sights on wineries outside of their DO with a view to expanding the business. CVNE, which runs four wineries in Rioja Alta and Alavesa, has acquired Anta Banderas, in DO Ribera del Duero; Virgen del Galir, in DO Valdeorras, and Roger Goulart, in DO Cava.
As for the two former wineries, each purchase comes with its own vineyard, whereas the vineyards in connection with the Cava purchase are rented.
It’s also looking to improve its wines in Rioja, where it has been working to upgrade its wineries and increase its vineyards, having invested 40 million euros over the last five years.
According to Víctor Urrutia, CNVE’s CEO, the company hasn’t ruled out additional acquisitions in other regions, saying that “We’ve entered the areas that interest us the most, but there’s still a lot of vineyard in Spain with tremendous potential that have been abandoned or forgotten,” according to elpais.com.
CVNE’s main markets are, for the moment, the US and Europe, though it’s now setting its sights on Asia, where there is significant scope for growth, according to Urrutia.