The Cabildo de Tenerife has officially ended its involvement as a shareholder in Bodegas Insulares, transferring its entire 45.66% stake to the island’s winegrowers.
The move brings to a close the Cabildo’s 35-year participation in the company and marks a new chapter for Tenerife’s wine industry.
Ownership Passes to the Sector
The transfer means that ownership of the shares previously held by the Cabildo will now be in the hands of local winegrowers.
According to the island authority, the decision follows discussions with the wine sector and is intended to give producers full responsibility for the future management of the business.
Complying with Competition Rules
The Cabildo said the change also responds to competition regulations, following concerns raised within the sector and presented to the European Union’s Directorate-General for Competition.
The principle behind the decision is that public administrations should not participate directly in commercial activities.
The transfer was formally approved during a meeting of the Cabildo on 31 July.
End of a 35-Year Partnership
The Cabildo first became involved with Bodegas Insulares in the 1990s, when the local wine industry needed support to strengthen production and improve marketing.
According to the Cabildo, those original objectives have now been achieved.
Over the past three decades, the sector has become more professional, developed stronger commercial infrastructure and helped raise the profile of the Vinos de Tenerife brand.
A New Stage for Tenerife’s Wine Industry
Island officials say the transfer will allow Tenerife’s winegrowers to take full control of the company’s future while continuing to build on the progress made over the last 35 years.
The move represents a significant milestone for the island’s wine sector, placing its future management entirely in the hands of those who produce its wines.