FRANCE: Vranken-Pommery acquires Champagne vineyards
Vranken-Pommery Monopole has acquired three hectares of Champagne vineyards for EUR3m (US$4.16m).
The company, which produces brands including Demoiselle, Charles Lafitte and Heidsieck, now controls, either directly or through contracts with growers, 277 hectares of vineyards in the region. It also holds the equivalent of 3.23 years of sales in its cellars.
"Relatively little land comes on to the market each year in the region and when this opportunity was presented to us we took it," company secretary, Paul Bamberger, told just-drinks today (17 September). He added that the purchase would contribute to securing Vranken-Pommery's source of supply at a time when producers were faced with steady growth in demand.
Vranken-Pommery, which last year sold more than 20m bottles of Champagne last year, recently confirmed its outlook of full-year revenue growth of 6% to 7%.
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