FRANCE: Thiénot doubles size with Bordeaux buy
French Champagne house Thiénot has doubled its size in taking a majority stake in Bordeaux-based wine grower and trader Modus Vin, the parent company of CVBG Dourthe Kressmann, Tarride Ledroit and SAS Chateau de Sérame.
The family firm said the purchase will allow it to become "one of the key players in the French wine market", and is "the first step in establishing a new multi-regional group specialising in the production and distribution of quality wine".
The transaction sees the departure of Modu Vin's main shareholders, Crédit Agricole et Péchel Industries and its president Jean-Marie Chadronnier, who is also president of the Vinexpo trade fair.
The deal "immediately offers CVBG Dourthe-Kressmann the opportunity to expand its viticultural interests as it takes over the management of Thiénot's Bordeaux properties," the company said.
"Likewise Thiénot will be able to develop its international business thanks to the strength and success of CVBG Dourthe-Kressmann in export markets, which represented 65% of its business in 2006."
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