FRANCE: LVMH sells Pommery to Vranken
French-based luxury goods producer LVMH has sold its Pommery Champagne brand to the Vranken Monopole group, for a price believed to be between €150m and €180m (US$134-161m). The deal will see the Pommery brand, its site in Reims, its cellars, its Champagne stock and its supply contract pass on to Vranken. However, LVMH will retain the vast majority of the Pommery vineyards, which LVMH called a "strategic asset for the group", in a statement issued yesterday.
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