FRANCE: Moet Hennessy sells Montaudon to Champagne Alliance
Moet Hennessy sells Montaudon to Champagne Alliance
A subsidiary of the Champagne Alliance co-operative, Jacquart, is to acquire Montaudon Champagne from Moet Hennessy Louis Vuitton.
The transaction, the value of which has not been disclosed, concerns the brand, a production site and stocks but not Montaudon’s (grape) supply contracts. Montaudon posted total sales of EUR26m (US$34.3m) in 2009 and joined the Moet Hennessy group in 2008.
The purchase of Montaudon is expected to further Jacquart’s on-going strategy of developing a more upmarket offering and bolster a turnover forcasted to reach EUR75m this year. Champagne Alliance brings together 2,000 co-operatives, representing 2,400 hectares of vineyards.
The deal follows last month’s news that Rémy Cointreau is planning to sell its Champagne business, which includes the Piper-Heidsieck and Charles Heidsieck brands.
In the final part of this month's management briefing, Richard Woodard rounds off his tour of the PIGS markets in Greece....
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