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González Byass announced that it has recently acquired a majority stake in company Veramonte, one of the most recognised and prestigious wineries in Chile, both for the location of their vineyards and the quality of its wines.
Its brands Neyen, Primus, Ritual and Veramonte –ranked among the Chilean premium wines– are distributed in 37 countries and hold a leading position in the US market.
Veramonte has two wineries for the making of wines and 600 hectares of vineyards spread among some of the most coveted valleys in the country, such as Casablanca, Colchagua and the world-famous secluded Apalta Valley.
With this acquisition, González Byass takes the leap to the production of wines outside Spain and strengthens its internationalisation strategy, while expanding and diversifying its brand portfolio.
The company reported that families Rojas and Huneeus, holders of Veramonte to date, have kept their links with the company, which will enable the combination of their extensive experience producing quality wines in the New World with the capacity for international distribution of González Byass.
The expansion of González Byass’ portfolio through Veramonte’s prominent brands will also enable the Jerez-based company to consolidate the activity of its distributor in the United States, González Byass USA.
This investment initiative is in line with the company’s recent entry into the Designation of Origin Rías Baixas through the acquisition of Pazos de Lusco, which, added to González Byass’ presence in Jerez, Arcos de la Frontera, Rioja, Somontano, Penedés, Castilla-La Mancha and Rueda, represents one of the largest and most relevant wine portfolios in the Spanish winemaking sector.
González Byass in figures
González Byass closed the year 2015 with a gross turnover of 211.2 million euros, of which over 60% was generated outside of Spain.
The company’s EBITDA was 20 million euros, which, related to a bank debt of 7.4 million, results in a debt-to-EBITDA ratio of 0.37.