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Investment firm acquires share in top cava producer ahead of UK push

Published:  14 November, 2017

Scranton Enterprises plans to boost premium Cava exports to the UK following its acquisition of shares in leading Cava producer Juvé & Camps, the capital investment company’s CEO has told Harpers. “We believe the UK is a high potential market for Juvé & Camps, as premium Cava offers the same quality experience of champagne at a slightly lower price point,” said Luca Tassan, CEO of Scranton Enterprises. Speaking exclusively to Harpers, Tassan said: “We have made an investment in Juvé & Camps to support some of the family members on their plans to continue to grow the Premium Cava sector and expand internationally,” he said. “The strategy for the cava estate will be to build on the organic attributes of the Reserva (minimum 30 months ageing) and grow in the US, UK and northern European countries,” he said.

Tassan declined to provide details over the amount of share ownership invested in Juvé & Camps (JC) and the price of the capital investment in the Cava and wine estate, but he confirmed that the investment had been concluded.

Based in Catalonia, JC, which is the market leader for Gran Reserva cava, owns several vineyards including La Capella, one of one of the 12 Cava sites, which qualified this year for the new single estate premium ‘Cava de Paraje Calficada’ classification. About 20% of JC’s production in exported. In 2015, estate converted its 271 hectares of vines to organic production and its first bottles of organic Reservas and Gran Reservas are to be released by 2018. The estate is involved, alongside other cava producers in Catalonia, in research into indigenous yeasts.

“We were very impressed by the estate and philosophy they have pursued over the generations and on their focus on quality of the Cava (most are Reserva or Gran Reserva), attention to the raw material (all the production is done in house) and full cycle ownership (from growing, production, ageing and distribution),” Tassan said.

JC is owned by the Juvé family and will continue to be managed by Joan Juvé and his daughter Meritxell.

It understood that Scranton Enterprises acquired the company shares of a family member. In a statement JC said the changes in share ownership had been 'prompted by the decision of some shareholders within the family to leave the group in order to focus on new personal and professional projects.' Scranton Enterprises is based in Amsterdam and is owned by Spanish and other investors. It has a share in Barcelona-based pharmaceutical company, Grifols. Scranton Entreprises declined to say whether Victor Grifols Roura, the former chairman of Grifols is behind Scranton Entreprises' investment in the wine and Cava estate.