CVNE folds Rías Baixas winery into portfolio
Rioja group CVNE has acquired Bodegas La Val in Rías Baixas, taking the number of wineries in its portfolio to eight.
Described as one of the “pioneers in the elaboration of Abariño”, La Val is an historic estate that had a hand in creating the Rías Baixas DO back in 1988.
La Val, which only produces wine from its own 90ha of vineyards, is export focused, with 70% of production sold beyond Spain’s borders.
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The addition of La Val to the CVNE group means that the Rioja-based company now operates wineries across five DOs – Rioja, Ribera del Duero, Cava, Valdeorras and now Rías Baixas – boosting its strength in white wines.
Commenting on the acquisition, Víctor Urrutia, CVNE’s CEO, said: “CVNE is a national treasure and our objective is to be Spain’s most important winery. Buying La Val will help us consolidate this objective’’.
CVNE (Compañía Vinícola del Norte de España, to give it its full name) was founded in 1879 in Rioja’s Haro and is still run by the decedents of the founders five generations later, being one of the best known producers in Spain.
In addition to the flagship CVNE bodega, its wineries now include: Imperial, Viña Real and Contino in Rioja; Virgen del Galir in Valdeorras; Bela in Ribera del Duero; Roger Goulart in Cava; and Bodegas La Val in Rías Baixas.
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