Rémy Cointreau is mulling the sale of its Champagne division, which has been hit hard by the economic downturn.

Rémy Cointreau said today (15 November) that it has commissioned the Crédit Agricole bank to initiate a competitive tendering procedure ahead of a possible sale of the Champagne business, which includes the Piper-Heidsieck and Charles Heidsieck brands.
 
The French wine and spirits group did not disclose a timeframe for the tendering. No one from the group was immediately available to comment further when contacted by just-drinks.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

In 2006, Rémy Cointreau relinquished its secondary Champagne brands, retaining only Piper-Heidsieck and Charles Heidsieck. This year, faced with a slump in exports, the group announced it would cut a quarter of jobs at Piper-Heidsieck.

Rémy Cointreau’s results have increasingly been led by the Rémy Martin Cognac brand in Asia. Cognac sales rose by 20% in the firm’s fiscal half-year, to the end of September. Champagne sales also rose in the period, by 16%, but this was not enough to claw back a drop of 42% in the same period of 2009.

Stay informed for just £1! *

Get access to unbiased and data-driven news with a subscription to Just Drinks.

What’s included in your subscription:

  • Unlimited access to Just Drinks content including daily global news, in-depth analysis, and interviews with C-suite executives
  • Unbeatable coverage of categories from beer, wine and spirits to soft drinks and hot
    beverages
  • Unrivalled drinks industry comment from Dean Best, Jessica Broadbent and leading sector specialists

Have a Subscribtion Sign in

Get help with subscribing or signing in

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
*30-day digital subscription for £1. Available to new subscribers only