Baron de Ley to Miss Sales Goal on Wine Consumption Weakness

Baron de Ley SA, the maker of Spain’s best-selling Rioja wine, will miss its full-year revenue target as the country’s economic crisis forces Spanish consumers to drink less and purchase cheaper vintages.

Sales this year will decline 4 percent to 4.5 percent from 2010, compared with a previous forecast of unchanged revenue, Eduardo Santos-Ruiz Diaz, chairman and chief executive officer of the Navarre, Spain-based company, said by telephone today.