SPAIN: Cordorniu buys land in California
Codorniu, controlled by the Raventos Family, already owns 425 hectares in California situated in Napa Carneros (141 hectares), Sonoma Coast (120 hectares) and Alexander Valley (164 hectares)
Codorniu has set itself the objective of increasing and strengthening the Artesa range of wines, which have received positive critical acclaim in North America.
Approximately one third of the land purchased is already planted with Cabernet Sauvignon grapes and in the next few months the rest of the land will be planted with more Cabernet, Merlot, Tempranillo, Grenache and Cabernet Franc
Codorniu Napa Inc. had a turnover of € 6.17m in the financial year 1999-2000 and since 1997 has become increasingly involved in the production of ultra premium table wines, shifting focus from lower margin sparkling wines.
Codorniu Groups total sales reached € 183.95m and still table wines now account for just over 32% of total group production volume.
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