FRANCE: Castel sells mineral water brands
French wine group Castel has confirmed the sale of all its mineral water interests to long-standing business partner Pierre Papillaud.
The operation concerns the Alma group, jointly owned by Castel and Papillaud, with its subsidiaries Neptune and CGES and their brand names St Yorre, Vichy Célestins, Thonon, Pierval, Chateldon, Courmayeur and Cristaline, Vernière, Rozana which are supplemented by regional brands. All existing distribution agreements between Castel and Alma are maintained.
Cristaline is France's leading mineral water brand in terms of volume.
When contacted by just-drinks today (8 May), Castel declined to comment in detail on the sale, saying only that the group is looking to refocus on its original wine business and strengthen its position through external growth.
Reports in the French press value the sale of Castel's 60% stake in Alma at around EUR600m (US$920.9m) with Papillaud increasing his stake from 40% to 51% and his Japanese partner, the Otsuka Beverage Co., who were behind the launch of the Crystal Geyser mineral water brand in the US, acquiring the remaining 49% of the capital.
- The category today - Scotch Whisky I
- Today's Market Trends - Scotch Whisky II
- Industry is following the pack to patriotic party
- Key Brands Performance - Scotch Whisky IV
- Tomorrow's Market Trends - Scotch Whisky III
- Brown-Forman shuffles director pack
- Diageo unveils first European Johnnie Walker House
- Diageo to accept US$1m South Korea fine
- Beam Suntory names CFO, makes structural changes
- Spirits can fill music industry gap - Jagermeister
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends
- Soft Drinks Global Overview: Growth Opportunities Between Category Lines
- Consumer and Market Insights: Wine Market in China
- Global travel retail insights - market forecasts, product innovation and consumer trends