Codorníu closes a new historic fiscal year in sales while continuing to look for a buyer

BarcelonaThe wine group Raventós Codorníu, owned by the North American private equity fund Carlyle, closed the 2026 fiscal year –from July 1st of last year to June 30th of this year– with a new revenue record while it continues working to find a buyer. According to the data presented this Tuesday at an event in Barcelona, the company achieved gross sales of 234 million euros, a figure that represents an improvement of 1% in year-on-year terms. Likewise, the net profit rose to 14 million euros, surpassing the 12 million in earnings corresponding to the previous fiscal year.

In a context that, according to its CEO, Sergio Fuster, has been characterized by a "challenging" market, the company seeks to generate maximum value to spark the interest of new partners. Carlyle, which has controlled more than 60% of the company's shareholding for seven years, has already been working for more than twelve months after hiring the banks Santander and Morgan Stanley tosell its stake. "All options are on the table [...] and our shareholders are analyzing the situation very carefully," noted Fuster. According to the executive, future changes within the group could involve both majority and minority stakes, including those still held by members of the Raventós family.

Likewise, the CEO detailed that the company is in the middle of a strategic review process of its business portfolio. Fuster does not rule out "acquisitions to strengthen growing segments" nor "divestments in segments less adapted" to the business model they want to bet on. "It is possible that there will be specific acquisitions and divestments," he stated.

In this sense, the group considers that the best synergies are found in Spain and in the world of wine, where the options for "complementarity" are broader than in the Cava sector. For Codorníu, Cava represents almost 60% of its total sales. At the same time, the group is the clear leader in the Spanish Cava market in value and volume, with a 30% share. Wine, on the other hand, enjoys more potential for growth, as it represents a smaller percentage of total revenue, specifically 39%.

Vindication of the DO Cava

In a fiscal year marked by the cava crisis, Fuster has defended the designation of origin (DO) that has traditionally brought together the main producers. Faced with the departure of large wineries like Juvé i Camps to Corpinnat, the executive lamented such decisions and maintained that the solution to the current situation –marked by a drop in consumption and a questioned model– implies acting "together and not separately." Despite everything, he also boasted about the results and opined that the trickle of some brands "has not affected the business."

In fact, the group has boasted of a market diversification that has allowed it to withstand the blow of the tariffs imposed by the United States, a country that is still the main destination for its exports. As a result of its strategy, Codorníu already expects to close the next fiscal year with an operating profit –the gain derived exclusively from its main activity– of between 48 and 50 million euros, above the current 46 million euros.