Heidsieck sold to EPI
By Rupert Millar 2011-3-21 16:01:41
French company Soci¨¦t¨¦ Europ¨¦enne de Participations Industrielles (EPI) has bought R¨¦my Cointreau¡¯s Champagne arm, comprising Piper and Charles Heidsieck.
The deal was reportedly worth €400 million and includes 800 hectares and 40m bottles split between the two houses.
The loss-making Champagne arm of R¨¦my Cointreau saw sales of €97m in 2009/10 and had promised to break even this year. R¨¦my Cointreau announced its intention to sell-off the division in November last year.
According to reports, EPI has no plans to split the company, nor will there be any staff changes.
EPI is owned by the Descours family. The newly-acquired Champagne houses join Luberon estate Château la Verrerie in the EPI stable.
With the majority of its holdings being French clothing brands, the Descours family was valued at €900m in 2009.
From www.thedrinksbusiness.com