Henkell has become the world’s largest sparkling wine producer after purchasing 50.67% of Freixenet’s shares.
Freixenet is Spain’s largest cava brand, while Henkell owns Mionetto, the world’s bestselling Prosecco brand. Henkell Trocken sales exceeded the million mark in Australia for the first time last year, with the brand experiencing double digit antipodean growth.
The deal means Henkell has also become the new majority shareholder in two Aussie wineries belonging to Freixenet – Katnook Estate and Deakin Estate – which are part of Wingara Wine Group.
Wingara Wine Group has noted there are no imminent changes to the company or their distributors as a result of the announcement.
It is believed Henkell paid just under €220 million for the majority share, with major shareholders including presidents, José Ferrer and José Luis Bonet, believed to have retained their shares.
Spanish newspaper La Vanguardia reported that political uncertainties in Catalonia lowered the value of Freixenet and delayed the completion of the deal.
Dr Albert Christmann, general partner of Henkell’s parent company, Dr August Oetker KG, said: “The Oetker Group consequently continues the expansion of its areas of business. With the acquisition of the shares of Freixenet we will strengthen the international market position of our sparkling wine, wine and spirits division significantly while at the same time we build up a solid base for sustainable joint growth in that business.”
Dr Andreas Brokemper, CEO of Henkell, said: “Henkell and Freixenet share a strong entrepreneurial vision. We are delighted to realize as partners the opportunities of the globally growing sparkling wine market. Together, we can offer our customers not only global expertise but also a unique range of first-class brands and specialties.”
Bonet Ferrer added: “Over three generations, we have made Freixenet the world’s leading producer of cava. In Henkell we have found a strong partner with a long-term strategy, which will significantly strengthen Freixenet and help us to maintain our identity and tradition – with an even stronger international presence in the future.”
Big week for Katnook
Katnook now has a new majority shareholder owner and a new Senior Winemaker.
Cloudy Bay’s Senior Winemaker Tim Heath has announced he’s moving back across the Tasman to join Katnook Coonawarra.
Heath has been at Cloudy Bay Vineyards for 14 years. During this time, he has been responsible for all facets of crafting Cloudy Bay’s internationally renowned wine styles, as well as overseeing winery infrastructure and expansion.
He will start his new role in June 2018.
Prior to Heath’s move to Cloudy Bay, he was Winemaker at Mountadam in the Barossa Valley. He started out studying a Bachelor of Science at the University of Adelaide, before transferring to a Bachelor of Oenology when he realised that winemaking “looked like too much fun to be considered a ‘real’ job”. He graduated from Oenology with First Class Honours, completing a thesis entitled ‘The development of non-destructive photo-chemical assay to measure the ingress of oxygen into bottled wine through various closures.’
Heath said: “I’m excited to be joining the team at Katnook, an Estate which has some of the finest terroir in the Coonawarra region, as well as incredible pedigree and history.”
Katnook’s Executive Director of Operations and Finance, Chris Pike, added: “We are thrilled that someone of Tim’s winemaking calibre has accepted this role. Tim brings a wealth of international expertise and creative flair that is certain to build on the great legacy left by Wayne Stehbens and to take Katnook Coonawarra into an exciting future.”
Australia lost one of its longest serving winemakers when Stehbens died suddenly in November last year.
He made Katnook’s first vintage in 1979 and was still head of winemaking at the vineyard when he passed away.
Katnook released a statement saying: “It is with great sadness that Wingara Wine Group announces the sudden passing of Katnook senior winemaker, Wayne Stehbens on Sunday 05 November. Wayne has been an institution on the Coonawarra wine scene for more than 30 years and his passion, skill and dedication to Katnook and the Coonawarra regioon in general will be greatly missed.”
