FRANCE: Jeanjean eyes acquisitions in south France
French wine trader Jeanjean, is eyeing acquisitions in the Bordeaux and Roussillon vineyards following a surge of external growth last year.
Jeanjean's finance director, Jean-Michel Choffel, confirmed to just-drinks.com that the group has a number of specific targets in mind and is hoping to close deals within the coming months.
"These acquisitions would go along way towards achieving our objective of becoming the leading trader in southern France wines with a network of independent wine houses who have their own quality brands and have strong regional roots," he explained.
Last year, Jeanjean acquired Rigal based at Parnac, in the south-west France, giving the group an entrée into the AOC market from Bergerac to Fronton and in particular, around Cahors.
It also bought Rhone Valley traders Ogier, Leonce Amouroux and Provence-based Gassier, as well as acquiring 58% of the capital it did not already own in "bag in the box" specialist, Le Cep Francais based near Montpellier.
Jeanjean posted a 2003 net income of €2.57m, a rise of 13% on the previous year. Turnover totalled €159m, a rise of 5.1% on a like-for-like basis.
Jeanjean has plans to open offices in the UK, Russia and Denmark in the coming months.
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