FRANCE: Chamarré gets Paris stock exchange listing
French wine brand Chamarré is to be introduced on the Paris stock exchange's Marché Libre this week following a capital increase totalling EUR7.2m (US$10.3m) within the framework of a private placement dedicated to qualified investors.
Chamarré president and founder, Pascal Renaudat, told just-drinks today (22 October) that a good part of the capital levered by the operation will target the marketing and development of the brand, particularly in the US.
"We recently took majority control of our Miami-based subsidiary, The Other Wine & Spirits (OWS), having previously held a 31% stake. OVS currently has wholesaler agreements in place which now span 19 east coast states," Renaudat said.
"We are also looking to build on the growing knowledge of the Chamarré brand in the UK through our distribution agreements but there are no immediate plans to set up a subsidiary there," he added.
Chamarré, which mixes wine from around 10 different co-operatives from across France, expects to post sales of 2m bottles in 2007 mainly in the UK, France and the US, generating a turnover of EUR4.6m.
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