Burgundy-based sparkling wines group Kriter Patriarche has acquired a 28.18% stake in Jeanjean's US subsidiary Cannon Wines through an increase in Cannon's capital.
Jeanjean recently posted disappointing 2004 financial results with one of the contributing factors being a fall in sales volumes in the US. Kriter Patriarche's US sales, which total around 720,000 bottles per year, will now be marketed through Cannon.
Early last year, Kriter-Patriarche took control of Marie Brizard's sparkling wines subsidiary, Sorevi, strengthening its market position in the segment.
The acquistion added an estimated €25m to the group's turnover and just over 25m bottles to its sales volumes.
Following its tie-up with Kriter Patriarche, Jeanjean is now eyeing a partnership in its service activity, which recorded losses of €1.52m last year.
Sectors: Wine
Companies: Marie Brizard et Roger International
