The deal brings together two behemoths of the wine world: Henkell’s Trocken is Germany’s most exported sparkling wine, while Catalonian Freixenet has been making wine since 1914. Though the Spanish producer is known for its cava, it launched a prosecco to the UK market in May 2017, as well as an Italian sparkling rosé this past spring.
The acquisition makes Henkell the majority shareholder in the cava producer. However, a capital increase is set to split the ownership 50/50 between Henkell and remaining Freixenet shareholders’ José Ferrer Sala and José Luis Bonet Ferrer.
Originally announced in March, the acquisition had to go through antitrust approval before it could be made official.
Freixenet’s board of directors will be restructured, with José Luis Bonet and Dr Albert Christmann as co-presidents. Other members include Demetrio Carceller Arce, SA Damm president, and Pedro Ferrer and Dr Andreas Brokemper, who will serve as managing directors.