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FRANCE: Remy won't sell Champagne business

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The French drinks group Remy Cointreau is not going to sell its Champagnes, which include the Piper and Charles Heidsieck brands.

According to the French weekly Le Journal des Finances, the company's CEO Dominique Heriard-Dubreuil said that after two years of contemplating its strategic future, the company will not sell its Champagne brands. Instead, she said, it will concentrate on moving the brands upmarket.

However, she went on to say that "we haven't ruled out the idea of some kind of partnership."

Remy's Champagne brands tripled operating profit in the 12 months ended March 31 to €17m, the company announced last week.

Heriard-Dubreuil also said that her family, which controls 60% of the company's stock, may be prepared to reduce its holding to allow Remy to be involved in the on-going consolidation of the industry.

"Our shareholding structure and our ambitions must allow us to develop the company even if the family holding has to be diluted," she said.


Companies: Cointreau

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