Remy Cointreau will make EUR146.3m from the sale of Piper-Heidsieck-Compagnie Champenoise

Remy Cointreau will make EUR146.3m from the sale of Piper-Heidsieck-Compagnie Champenoise

Rémy Cointreau has completed the sale of its Champagne business to France's Societe Europeenne de Participations Industrielles (EPI).

The two companies, which announced the transaction at the end of May, confirmed closure of the sale of Piper-Heidsieck-Compagnie Champenoise late on Friday (8 July).

The EPI Group will subsequently take control of Rémy's Champagne business in Reims, including the Piper-Heidsieck and Charles Heidsieck brands, and Piper Sonoma, the sparkling wine brand in the US. The group, which operates in the premium goods arena, has paid an enterprise value of EUR412.2m (US$593.6m).

To view the official statement, click here.