FRANCE: Remy Cointreau parent eyes full control of Oeneo
The parent family of Rémy Cointreau is looking to take full ownership of wine stopper and cooperage group Oeneo.
Hériard Dubreuil has launched a bid valued at EUR175m (US$230.7m) for the rest of Oeneo. The family already owns around 38% of the company.
The bid, made via its investment vehicle, Andromède, is "designed to give Oeneo the means to pursue its development strategy”, said Hériard Dubreuil.
In a statement released today (2 May), Oeneo said that its board “considered the bid to be in the interests of the company”.
The takeover offer, which is valid for 25 days, also includes an investment project estimated EUR25m to increase production capacity of its Diam stopper to more than 1.5bn units annually.
Oeneo, which has a current stock market valuation of around EUR150m, reported a 2012-2013 turnover of EUR134.7m, a year-on-year increase of 5.2%.
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