FRANCE: Rémy Cointreau agrees Champagne sale - report
Rémy Cointreau sells Champagne business to EPI - report
Rémy Cointreau has agreed to sell its Champagne business to France's Societe Europeenne de Participations Industrielles (EPI), according to a report.
EPI, which is owned by France's Descours family, has agreed not to split the business as part of the deal, according to Decanter.com, which reported the news today (17 March). It did not cite sources.
The sale could not be immediately confirmed by just-drinks. However, since the begginning of this month, Rémy and EPI have been in exclusive talks on a deal for the Piper-Heidsieck and Charles Heidsieck brands and related assets.
Rémy is believed to have been seeking a price of around EUR400m (US$561m). The sale of the unprofitable Champagne arm will allow the group to focus on its Cognac markets, particularly in Asia.
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