Carlyle-backed Codorníu bolts on Gleva Cellars

Following the merger, Gleva Cellars CEO Ramón Raventós Basagoiti will be appointed as CEO of the combined group.

Carlyle acquired a 68% stake in Spanish cava producer Codorníu Raventós from the company's founders, the Raventós family, in June 2018. The transaction valued the company at €390m, which equates to around 15x its forecast 2018 EBITDA. The GP deployed capital from Carlyle Europe Partners IV, a buyout fund that held a final close on €3.75bn in July 2015, hitting its hard-cap.

Company
Based in Tiana, near Barcelona, Gleva is a cava producer. It markets its wine under the brand names Parxet, Mont-Ferrant, Titiana, Tionio, Basagoiti, Portal del Montsant and Raventós de Alella.

The company generated revenues of €15m in 2017, according to press reports.

People
Codorníu Raventós – Alex Wagenberg (chair).
Gleva Cellars – Ramón Raventós Basagoiti (CEO).

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