H. Mounier, a wholly-owned subsidiary of co-operative Unicoop, has taken a 67% stake in Bordeaux wine trader Calvet
Based in the Cognac region, H. Mounier has acquired the stake from four investment groups, which included 3i.
Calvet chairman Jack Drounau will retain his post and remain a minority shareholder.
Founded in 1818, Calvet had been previously owned by Allied Domecq from the early 1980s to 1997.
The company, which has an established position in the UK and Japan, employs around 100 staff and posted a 2002 turnover of €38 million.
H. Mounier's acquisition of Calvet opens up a new market for the Cognac-based trader. It recently purchased Cognac firm Hardy and sells Cognac under the Hubert de Polignac brand too.
It also supplies a French vodka, Grey Goose, to the US market.