The Champagne house, Vranken Monopole, which recently acquired the Pommery Champagne business, has announced that it is to increase its capital by as much as €27.5m.

The company said it would be issuing 955,570 new shares at €25 each, looking to raise €23,889,350. The company added that that sum could be increased by up to 15% to a maximum of €27,472,650. Existing shareholders are to be given first refusal on the share issue.

Vranken Monopole acquired the Pommery brand, its cellars in Reims, Champagne stocks and supply contracts from LVMH in June for between €150m and €180m.