April 20, 2023

On its way to internationalization, Codorniú has set its sights on America. The dean of cava had a modest presence in the United States until this month of April, when he signed an agreement that will allow him to sell in 27 states in the country compared to just nine that he had reached until then.

The firm controlled by the Carlyle investment fund sealed an alliance with the New Republic National Distributing Company (NRDC), the second largest alcoholic beverage distribution company in the country, to expand its footprint in the territory; a bet that joins the recent change of partners that has also occurred in Mexico.

The company explains to elEconomista.es that the agreement will enter into force next may 1 and that will involve reaching Alaska, Arizona, California, Florida, Hawaii, Idaho, Michigan, Oregon, Washington, Colorado, Illinois, Indiana, Kentucky, Louisiana, Maryland, Mississippi, Montana, Nebraska, North Dakota, New Hampshire, Oklahoma, South Carolina, South Dakota, Texas, Utah, Virginia; Wyoming; and the federal district of Washington DC.

“With this agreement, we advance in our mission of accelerating the growth of Codorníu’s portfolio”, celebrates the company

“With this strategic agreement, we advance in our mission of accelerating the growth of the Raventós Codorníu portfolio and offer the best wines and quality cavas to consumers throughout the United States”, celebrates Sergio Fuster, CEO of the group.

The new contract involves the 15 wineries that the company hasso it will also affect brands such as Bodegas Bilbaínas, Legaris or Scala Dei.

The return to benefits of Codorniú

The organization thus aspires to increase its presence in the United States, a country in which it has some wineries in California (Artesa), with which they also have a relaunch plan underway. It is a matter of taking another step on the path towards internationalization undertaken years ago, since today 65% ​​of the income still comes from Spain.

Both decisions come to give a boost to a market that has already grown 25% in the 2021/2022 campaign, in line with total revenues, which reached 219 million compared to 174.4 a year earlier, as this medium explained. in December.

Internationalization and the commitment to high-end products should bring the company back to profit. While waiting for the final numbers for the last year, ebitda improved by 45% to 29 million. The firm touched the accounting balance and was left with a result of -200,000 euros compared to the losses of 11 million in the year 2019/20 and 8 million in 2020/21.

The expansion on the continent was not limited to its first economy. Codorniú also began to see how the agreement signed with its new Mexican distributor was paying off. Although with a still modest presence, sales of the company grew 88% in the exercise; a percentage that has risen to 887% since he signed with Grupo Bepensa in 2021.