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FRANCE: Taittinger boosted by Champagne growth

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Hotel and luxury goods group Taittinger has seen solid growth from its Champagne business help boost its first half revenues. The family-run company is currently being sold to equity group Starwood Capital.

Taittinger revenues grew 3% to €404.5m, compared to the same period last year.

The company's Champagnes and wines operations reported revenues of €39.6m, up 6.6% from €37.1m last year. In a statement the company also said its hotel business had reported strong growth.

Starwood Capital is planning to sell the wine and Champagne division once it completes its acquisition of the Taittinger business.

However, French newspaper La Tribune, today reported that a sale of the drinks arm would not happen before mid-September. The newspaper quoted a source close to the transaction who pointed out that European competition authorities would not rule on Starwood's acquisition until then.

La Tribune added that working out the value of the Champagne and wine business would be a lengthy task for Starwood.


Sectors: Wine

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