As 2024 draws to a close, the Spanish wine industry is abuzz with activity. While Compañía de Vinos Iberian has just announced its acquisition of Valenciso in Rioja, Grifols is reportedly preparing to sell Juvé & Camps, according to the financial newspaper Cinco Días.
Located in Ollauri (Rioja), Valenciso was founded in 1998 by Carmen Enciso and Luis Valentín, two seasoned wine professionals who had previously worked together at Bodegas Palacio (Laguardia, Rioja Alavesa). Their time at Palacio coincided with the modernisation work carried out by Jean Gervais and consultant Michel Rolland, laying the groundwork for their own venture.
The buyer, Compañía de Vinos Iberian, is owned by Mexican businessman Ernesto Tinajero, who holds various investments in Spain since 2014, including real estate and wine. In 2022, he bought a group of wineries led by Borja Osborne, including Jaros in Ribera del Duero, Cal Grau in Priorat and Viñedos de Yaso in Toro.
According to Rafael Cruz, CEO of Compañía de Vinos Iberian, acquiring Valenciso aligns with the group’s aspirations for Rioja. "We are buying a company with excellent products, a strong brand and a solid background. This will help us develop our brand and propel us to the next level - it will give us a good boost for the next few years."
Valenciso has built a stellar reputation over its 25-year history, with an international presence spanning 40 countries. Approximately half of its nearly 200,000 bottles are exported. Its flagship Reserva wine, priced at around €25, has been a particular draw for the new owner. Run by Valentín and Enciso (pictured below), the company had the backing of more than 200 small shareholders.
Reflecting on the sale, Luis Valentín, 66, remarked that this bid was different from previous offers as it came from a solid group with resources and long-term plans. "Continuity is guaranteed, both in terms of our aged wines and management, as we will stay on for some time," he told SWL. Valentín has committed to remain with the company for two years, adding that the sale was somehow implicit since its foundation: “Although we may look like a family business, we are not; we knew this moment would come.”
Valenciso embodies the last classic project of the 1990s in Rioja. It began with just a single Reserva wine, showcasing the ageing potential and character of old vine Tempranillo from Rioja Alta. Over time, the range expanded to include a white wine, made with the advice of Denis Dubourdieu, a rosé and a single-varietal Graciano. One of their most special wines is Valenciso 10 Años Después, aged for four and a half years in concrete and another four years in oak. Known for its use of concrete vats from the outset, the winery recently launched Valenciso Cemento, a Tempranillo aged entirely in this material, which demonstrates Valenciso’s ability for innovation.
Rafael Cruz is committed to continuity. “If things are done well, there is no need to change anything," he says. In this new phase, Valenciso will continue to be a member of ABC Rioja (Asociación de Bodegas por la Calidad) and Grandes Pagos de España.
Meanwhile, speculation surrounds the potential sale of Juvé & Camps, a prominent Cava producer based in Penedès. Spanish financial newspaper Cinco Días reports that the Grifols family, which acquired a majority stake in 2017 through its investment company Scranton Enterprises, is seeking to offload the business to address debts with major banks. The report, which mentions unnamed sources, says that "the holding company is working with financial advisors to find an investor". However, both Scranton and Juvé & Camps have declined to comment.
The timing is critical for the wine sector, with global wine consumption in decline. While white and sparkling wines have weathered the downturn better than reds, Penedès has faced a prolonged drought since 2021, causing a significant drop in production.
Juvé & Camps is a flagship Cava producer. The company is the largest producer of Gran Reserva and is certified as an “elaborador integral”, a new category that recognises producers who press and ferment 100% of their wines in their own facilities. Juvé & Camps has more than 270 hectares of organically farmed vineyards.
