News

FRANCE: Scandal among the Champagne vineyards

Most popular

Top US brewers in 2020 - data

Top US craft brewers in 2020 - data

How COVID has closed the digital gap - trends

Hard seltzers pave the way for 'soft seltzer'?

Anheuser-Busch InBev Performance Trends 2016-20

MORE
Scandal has hit the Champagne vineyards with one of the industry's senior figures being held on fraud charges.

Pierre Martin, ex-chairman and CEO of La Financiere Martin, which owns Bricout and Delbeck Champagnes, has been charged with fraudulent bankruptcy, breach of trust and fraud and detained in custody.

The group's financial director, Louis Fariello and Epernay-based wine broker, Luc Lhermitte, have also been charged.

The charges surround the sale of Bricout and Delbeck in February to Luxembourg investment company Opson, which belongs to US trader, Schneider.

The new owners discovered that over 50% of Bricout and Delbeck's turnover (€185m) was from sales of "vins sur lattes", that is Champagne wines which have almost completed the production process - the sediment has not yet been removed.

These bottles are generally bought by one trader from another or from co-operatives or growers.

Opson also found the company had not been able to meet its payments for two months.

On April 24, Bricout and Delbeck filed for bankruptcy with estimated liabilities of €100m.


Related Content

Former Diageo tech exec lined up to push Beam Suntory's digital aims

Former Diageo tech exec lined up to push Beam Suntory's digital aims...

Diageo continues US RTD expansion with Loyal 9 Cocktails buy

Diageo continues US RTD expansion with Loyal 9 Cocktails buy...

PepsiCo takes Manzanita Sol to New York for giveaway weekend - video

PepsiCo takes Manzanita Sol to New York for giveaway weekend - video...

Anheuser-Busch InBev Performance Trends 2016-20 - results data

Anheuser-Busch InBev Performance Trends 2016-20 - results data...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?