Top 10 drinks stories of 2011(11)

10. R¨¦my Cointreau sheds Champagnes

French group R¨¦my Cointreau shocked the Champagne world back in March with the announcement it had entered into exclusive negotiations with privately-held company Soci¨¦t¨¦ Europ¨¦enne de Participations Industrielles (EPI) with a view to possibly selling its loss-making Champagne division, including the Piper-Heidsieck and Charles Heidsieck brands.

While most industry observers anticipated bids to come in from established players in the Champagne region, EPI only counted a single, relatively unknown Château among its existing assets.

Although powerhouses LVMH and Pernod Ricard ruled themselves out of the bidding soon after R¨¦my Cointreau announced its intention to sell off the Champagne arm, rumours of interest from the likes of Nicolas Feuillatte and Boizel from the Champagne region itself, plus Davide Campari, suggested that an established drinks company would take over the brands.

Nevertheless, the talks proved successful and R¨¦my Cointreau announced the sale of its Champagne division to EPI for €412 million in the summer.

EPI, a family owned group run by Christopher Descours, owns a number of French trademarks in the upmarket goods market, such as JM Weston, Bonpoint, Alain Figaret, François Pinet and Michel Perry, as well as Château La Verrerie. EPI also carries out a diversified investment policy.

In addition, R¨¦my Cointreau and EPI signed a global distribution agreement for the Piper-Heidsieck and Charles Heidsieck brands, as well as for Piper Sonoma in the US.

R¨¦my Cointreau chief executive Jean-Marie Laborde said: ¡°The sale is entirely consistent with the acceleration of our value strategy, which focuses on our international liqueurs and spirits brands and businesses. The proceeds of the sale will enable us to fund our development in major markets of today as well as in markets with strong potential for future growth.

EPI chairman Christopher Descours added: ¡°This new initiative will strengthen our commitment to wine-making, initiated 20 years ago with Chateau La Verrerie (Lub¨¦ron.)

¡°Given the very favourable environment for the Champagne market, this acquisition represents an exceptional opportunity.¡±