Miraval Provence, the rosé business linked to Brad Pitt, has sold a stake to Crédit Agricole.
The French bank carried out the move through PE arms IDIA Capital Investissement and SOFIPACA.
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Crédit Agricole said the move supports “a new phase of growth” at Miraval Provence.
The business has been co-owned by France-based wine group Familles Perrin and Château Miraval, a holding company that had belonged to Pitt and ex-wife Angelina Jolie.
In 2021, five years after Jolie filed for divorce from Pitt, she sold her stake in Château Miraval to Tenute Del Mondo, the wine division of drinks giant Stoli Group.
Stoli acquired the stake by purchasing Jolie’s investment company, Nouvel.
After Jolie offloaded her stake in Château Miraval, Pitt filed a lawsuit against his ex-wife, claiming the sale had been unlawful. The legal dispute continues.
In a statement announcing Crédit Agricole’s investment of a stake in the Miraval Provence operating company, the bank said it would help “accelerate the commercial development” of the business at home and abroad.
Financial terms were not disclosed.
“We were convinced by the quality of the partnership between the Perrin family and Château Miraval, as well as by their commitment to the company’s long-term development,” Cédric Fontaine at IDIA Capital Investissement and Alexandre Flageul at SOFIPACA added in the statement.
“Our support aims to enable Miraval Provence to reach a new stage in its development by supporting its marketing and communication investments and strengthening its organisation to support its future growth.”
Miraval Provence generates the majority of its sales through exports via the Perrin family’s distribution network and a tie-up with Campari.
The business markets wine under two brands – Miraval Côtes de Provence and Studio by Miraval.
“This investment by Crédit Agricole, alongside our family and Château Miraval, marks a significant milestone for Miraval Provence,” Miraval Provence president Marc Perrin said.
“It will allow us to accelerate our international development, strengthen the brand awareness of Miraval and Studio by Miraval, and continue to innovate to meet the evolving expectations of consumers worldwide. This partnership also provides the resources to bolster our teams and attract new talent to support this shared ambition.”
