Round-Up - Remy Cointreau to Offload Champagne
Remy Cointreau has announced that it is looking to sell its Champagne unit. Here, we bring together just-drinks coverage of the race to buy the Piper-Heidsieck and Charles Heidsieck brands.
Remy Cointreau is struggling to persuade analysts and the market that it is on an upward curve, following the release of disappointing half-year profits figures.
Remy Cointreau has said that it expects offers for its Champagne business before the end of 2010.
Remy Cointreau's Champagne business has been marginalised by the global recession and the group would rather be pouring Cognac for China.
Remy Cointreau has said that its Champagne arm is unprofitable and the group hopes to reinvest proceeds from selling the business into Cognac and other spirits.
Rémy Cointreau's announcement that it may sell its Champagne business will doubtless have pricked a few ears in the drinks sector.
Rémy Cointreau is mulling the sale of its Champagne division, which has been hit hard by the economic downturn.
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