Spanish wine company Terras Gauda Group has secured a 25% stake in Bodegas Gargalo, the wine arm of national fashion house Roberto Verino.
The move will see Terras Gauda “assume the management of all areas of activity”, a joint company statement read.
These areas include “oenological, business and commercial management, exports logistics and wine tourism”, they added.
Set up in 1998 in Monterrei in Galicia in north-west Spain, Bodegas Gargalo produces a range of white varietials, such as Godello and Albariño, as well as red wines like Arauxa and Mencía.
The investment will also allow Terras Gauda to integrate Gargalo’s Godella Gargalo white wines and some of its red varietals into its portfolio.
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Both groups noted the move would see them work together to boost Gargalo’s position both in Spain and the rest of the world, by “diversifying its sales channels and enhancing the differentiation of its wines”.
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By GlobalDataGargolo’s workers will still work “in close collaboration” with the Terras Gauda team, they said.
Both groups added they believed they share similar values, including “differentiation, pride in belonging to their respective territories” and a dedication to “the enhancement of noble varieties”.
In a joint statement, José María Fonseca, Terras Gauda president and Gargalo president Roberto Verino agreed the acquisition would be “a medium and long-term commitment” that would help them “join forces in search of a common goal”.
Founded in 1990, Terras Gauda owns four wineries in Spain: Bodegas Terras Gauda in Ponteverda; Bodegas Pittacum in Arganza; Quinta Sardonia in Castilla y León; and Compañía de Vinos Heraclio Alfaro in Rioja’s Baja region.
The business sells over 2.8m bottles a year, with exports making around 30% of its annual sales. It is present in 70 international markets, including the US, the UK and Germany.
