Belvedere looks set to sell Marie Brizard to La Martiniquaise

Belvedere looks set to sell Marie Brizard to La Martiniquaise

Belvédère has entered into “exclusive negotiations” with COFEPP, the parent company of French group La Martiniquaise, for the sale of the majority of the assets of its Marie Brizard subsidiary.

“If the negotiations are completed successfully, the contract for the acquisition will be signed before the end of July,” the French drinks company said today (12 July), adding that the deal does not include Marie Brizard’s Moncigale wine brand.

The sale price has been estimated in the French media at EUR185m (US$232.9m), but this has not been confirmed by Belvédère who must sell the company as part of a deal with the French courts to bring down the drinks group's debt and enable it to relaunch from bankruptcy protection.

Late last month, a source close to the negotiations for the sale of Marie Brizard told just-drinks that La Martiniquaise and ThaiBev were the only two candidates left in the running.

La Martiniquaise owns Porto Cruz Port and the Label 5 and Glen Turner whisky brands.