FRANCE: Castel to strengthen Suntory tie-up
Castel is hoping to increase its presence in Asia through its partnership with Suntory
Castel is looking to extend its co-operation with Japan’s Suntory into Asia.
Earlier this year, the French drinks group announced plans to team up with Suntory to acquire Bordeaux grands crus specialist, Grands Millésimes de France (GMF), from French mutual insurance group Covéa. The two partners will hold 50% of the company’s capital, having recently obtained regulatory approval for the move.
Speaking to just-drinks earlier this month, Castel’s director of communications, Franck Crouzet, said: “Our co-operation with Suntory began in 2000 with the supply of French wines to the Japanese market. We are now planning to take this step further in supplying wines to Suntory for other markets in Asia but this is as much we can say at this stage.”
In late-2009, Suntory signalled its intention to expand overseas when it acquired Orangina Schweppes for around EUR2.6bn (US$3.8bn). However, Crouzet played down an prospect of Castel being in Suntory's sights.
“Castel is not for sale and Suntory is a valued partner,” he said. “We are a 100% family-owned firm and have not built-up this business with the intention of selling it off one day.”
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