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FRANCE: Vranken in EUR20m vineyard acquisition

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Champagne group Vranken Pommery Monopole has spent around EUR20m (US$24.8m) on 21ha of vineyards in the Montagne de Reims.

The company secured the deal despite "a great deal of interest" from other houses, according to managing director Paul-François Vranken. He said: "It's especially unusual because it was a private owner. It's one of the most important transactions for the past ten years."

No official selling price was given, but it is believed that the land was worth slightly less than EUR1m per hectare at current market rates.

Vranken was given first refusal on the deal by the vineyards' owner, Jacques Gauthier. Vranken and Gauthier have known each other for 35 years, and Vranken has bought the vineyards' grapes for the past two years, before which they went to Piper-Heidsieck.

The land covers 30ha, 9ha of which are woods, 5km from Reims. The vineyards are planted exclusively with Pinot Noir.


Sectors: Wine

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