Palladium enters the wine business with the acquisition of Abadía San Quirce

The Palladium hotel group, owned by the Matutes family, has expanded its business into the wine sector with the acquisition of a significant stake in Abadía San Quirce, a winery belonging to the Ribera del Duero Denomination of Origin. The deal, signed on Thursday, ends months of rumors about the Ibiza-based conglomerate entering the wine business.

The winery was founded in 1998 by José Antolín, owner of Grupo Antolín, a company specializing in the manufacture of components for the automotive industry. Neither the value of the transaction nor the exact percentage of the share capital acquired by Palladium has been disclosed.

The acquisition by the hotel group will not entail any change in the winery’s management; it will retain the current management team, with Daniel Aguirre as general manager and Diana Moreno as head of oenology.

Abadía San Quirce, originally founded as Bodegas Imperiales, has made a name for itself over the last two decades among the emerging wineries of the Ribera del Duero. Its range combines a selection of traditional red wines—crianza and reserva—with a collection of estate wines, including labels such as Finca Helena, M9, and Trasconvento. The winery also produces a white wine at a facility in the Rueda Denomination of Origin.

Palladium expands its business diversification

The acquisition of Abadía San Quirce marks a new step in the diversification strategy of Palladium Group, the business conglomerate of the Matutes family, based in Ibiza and chaired by Abel Matutes Prats.

The group has undergone a profound transformation from its beginnings as Fiesta Hotels, which focused primarily on vacation tourism, to becoming an operator with a prominent presence in the luxury hotel sector. Currently, its operations extend across various Spanish destinations, with a particularly strong presence in Madrid and Barcelona, as well as in markets in the Caribbean, Italy, and Brazil. Asia is one of the target regions for its international expansion.

Alongside the development of its hotel business, Palladium has launched its own brands, such as Only You and Bless, and has expanded its interests into other business sectors. These include renewable energy and stakes in companies such as Baleària and Air Europa.

The acquisition of Abadía San Quirce thus adds wine to an investment portfolio that extends beyond the tourism business and strengthens the Ibiza-based group’s diversification across different sectors. The deal also comes at a difficult time for Grupo Antolín, the industrial conglomerate to which the winery belongs.