BARCELONA Ė The company renowned for having first developed cava, Spainís renowned sparkling wine, joined on Monday an exodus of businesses that are moving headquarters out of the northeastern Catalan region following instability caused by its governmentís bid to declare independence from the rest of the country.
The board of directors of Unideco SA, a holding company of the Codorniu Raventos group that specializes in the production of wines, said it is to move its headquarters from Catalonia to Rioja, another of Spainís outstanding vine-growing regions, in the face of what it described as instability.
The group said it had taken the decision because of ďthe political and legal uncertainty in which Catalonia is plunged and with the objective of guaranteeing the interests of its workers and clients.Ē
The headquarters of Codorniu, which has for generations been located in the winemaking town of Sant Sadurni díAnoia just to the west of Barcelona, will be set up in Haro, in the province of La Rioja, the company said.
It also explained that it is to maintain its production base and principal warehouses, as well as the staff employed there, at their current locations in Catalonia.
Codorniu began studying the possibility of transferring its headquarters last week, depending on how the political scene in Catalonia evolved, it said.
Codorniu joins companies such as CaixaBank, Gas Natural Fenosa, Banco Sabadell, Agbar, Colonial, MRW, Indukern, Catalana Occidente, Derby Hotels or Dogi in moving its headquarters out of Catalonia.
Luis Suarez, Dean of the Catalan Registrarís College, explained to EFE that the relocation of offices outside the region began to pick up speed on Oct. 7, just after Banco Sabadell and Caixabank approved a change of registered offices.
The exodus of companies began in the form of a drip after a referendum that was deemed illegal by Spainís judiciary was held on Oct. 1, but it has bubbled up to include more than 580 large, medium and small business entities, according to Suarez.
The dean said there was also a slowdown in the real estate market within Catalonia.