French family-owned group Prieux has acquired its second Champagne house, Gardet, for an undisclosed fee.
Founded in 1895 and situated between Epernay and Reims, Gardet produces 1.2m bottles per year on a turnover of EUR16m (US$22.6m). Around 70% of production is exported.
Prieux bought Champagne house Ployez-Jacquemart, with an output of of just 100,000 bottles, in 2004.
The firm, which also owns garden centres and hotels, took a 34% stake in Gardet in January 2007 on the understanding that it could gain total control in the future.
Prieux head Christophe Prieux said: “We view it as a long-term investment.”
Commenting on poor sales for Champagne in the economic downturn, he added: “The end of the year was very strong and this month there are signs of customers needing to restock.”
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By GlobalDataGardet is largely supplied by contract growers, working around 100ha vines.
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