Spanish wine group Vintae has secured local judicial approval for its restructuring plan of peer Bodegas Riojanas.
In May, Vintae had devised a restructuring plan to buy the Rioja wine business and save it from insolvency.
This plan was then agreed with financial institutions and was approved by Bodegas Riojanas’s shareholders the following month.
A regulatory filing this week from Bodegas Riojanas published with Spanish’s financial markets regulator the Comisión Nacional del Mercado de Valores (CNMV), said the restructuring plan was given judicial approval after a ruling was granted by the Civil Section of the Court of First Instance of Logroño on Monday (29 June).
The court decision greenlights the proposal to hand a 90% stake in Bodegas Riojanas to Gevisa Wine Capital, the parent company of Vintae.
“The resolution is final and no appeal may be lodged against it,” the filing said.
In its filing, Bodegas Riojanas said that once the approval order has been issued, the transfer of the debt to be capitalised is anticipated to take place in the following 15 working days.
The acquisition of the 90% stake in Bodegas Riojanas is expected to happen on the working day following that transfer.
The restructuring plan still needs to be formally registered with Spain’s business registry.
Last month, the Bodegas Riojanas board decided to move the company’s registered office to Madrid.
The Bodegas Riojanas group, known for producing brands such as Monte Real, Puerta Vieja, and Viña Albina, had confirmed in a May filing with Spain’s financial markets regulator CNMV that its shareholders will retain the remaining 10% of the business.
Implementing the plan, the filing said at the time, “will allow the companies of the Bodegas Riojanas group to overcome their current insolvency situation”.
Following the signing of the restructuring plan in May, Vintae CEO and founder Richi Arambarri had said: “Rioja is going through a period of transformation and uncertainty but we are fully aware of the historical importance of a century-old winery group such as Bodegas Riojanas, one of the founding names of Rioja, with renowned brands that helped place the region on the international wine map,”
Vintae bought a winery in Spain’s Ribera del Duero region in November to support its Bardos brand. Earlier in 2025, the business also regained full ownership of local vermouth producer El Bandarra after Diageo divested its minority stake.
The group’s existing portfolio also includes Matsu, Hacienda López de Haro, and Pandemonium.
“Vintae’s restructuring plan for Bodegas Riojanas receives judicial approval” was originally created and published by Just Drinksa GlobalData owned brand.