Alert, Codorniu Sells Majority Stake to Private Equity

After reportedly rebuffing the first offer made earlier this year, Barcelona-based cava producer Codorniu has agreed to sell a majority stake in the company to US private equity firm the Carlyle Group, per a release. The purchase price was not disclosed but the transaction valued the company at about $450 million.The Carlyle Group plans to expand Codorniu's global footprint, "both organically and through acquisitions," and enhance its position in the premium wine segment, according to Alex Wagenberg, managing director, Carlyle