Nazca purchases 53% of Cosecheros Abastecedores

Nazca Capital has taken control of the Cosecheros Abastecedores (Casa) winery, the largest Spanish wine group, thanks to the acquisition of 53 percent of the shares of the company. The operation, which was subject to a due diligence (review of the accounts of the acquired company) includes an offer for purchasing one hundred percent of the company for 117.9 million euros.

The incorporation of Nazca in the capital of Cosecheros was agreed to by the shareholders, representatives of fifty-three percent of the capital acquired.

PriceWaterhouseCoopers was selected as the advisory entity for the seller, while BBVA and BNP Paribas will finance the operation.

Improvement of management

Cosecheros is the sixth largest wine production group in Spain, with a market share of 2.9 percent. The company’s activity is divided into two main lines of business: wine with Valdepeñas denomination of origin (which makes up 51 percent of its invoicing), and table wine (which represents 49 percent). Additionally, the winery exports 43 percent of its sales.

The objective of Nazca with this operation is to improve the management of Cosecheros, which is in the middle of a process to increase its production capacity through the expansion and improvement of its winery facilities in Valdepeñas (with an investment of fifteen million euros) and those of Madrid, to convert them into a distribution centre which will also have central offices.

Through these improvements, the company has announced that it plans to increase its production and storage capacity up to ninety million litres.

Cosecheros has two wineries, a production centre and storage in Madrid, and its own estate with three hundred hectares of grapevines in Valdepeñas.

Offer on the whole company 
BBVA and BNP Paribas will finance the operation for 117.9 million euros.