The administrator of bodegas
Garvey (the huge Complejo Bodeguero Bellavista) and bodegas Zoilo Ruiz
Mateos are looking for one buyer for both bodegas, since both the ex Nueva
Rumasa concerns share production facilities. Both are still active going
concerns, with Zoilo employing 70 people, and owning bodegas and 400 ha of
vineyard. The hope is that the two companies can be sold within the next six
months.
Some vineyard and stock of wine has already been sold in
order to provide some money for the company to meet expenses. The sale will
include all the Garvey brand names, and a protective embargo has been put on
them. Also embargoed as a precautionary measure are Grupo Garvey registered
names, such as Bodegas Garvey, Garvey, Garvey BV among others, actually owned
by Engel Overseas Ltd of Belize.
The brands of Zoilo Ruiz Mateos do not have this problem, as
the bodega is the exclusive supplier of Sherry for Sandeman. This relates to a
deal from 2004 by which Nueva Rumasa took over the entire bodegas and vineyards
of Sandeman - but not the brand – which Rumasa desperately wanted. Anyway,
Garvey and Zoilo both belong to Back In Business, whose owner, Angel de Cabo is
in preventive custody for fraud with Marsans, a travel company.
While there are no firm offers on the table yet, there has
been interest from agricultural alimentary companies from outside the Sherry
zone. Let us hope this sale can be brought to a successful conclusion, and that
both bodegas – or all three if we include Sandeman – can get on with producing
top notch Sherry without worry about their future.
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