Italy’s Campari Group has reached an agreement for the sale of the French Château de Sancerre wine business for €20.5 million.
The buyer is Maison Ackerman, the wine division of Terrena, a France based company with diversified interests in the agriculture industry.
The deal consists of the Sancerre wines as well as buildings, vineyards, vinification, production plants and inventory.
The transaction will be closed once the final administrative authorisation is obtained.
Sales Performance
The Château de Sancerre winery achieved total sales of € 3.5 million in the fiscal year ended 31 December 2016. The winery spans over 55 hectares of vineyards and its portfolio is composed of highly acclaimed wines from the Loire Valley in France.
Campari Group took over the winery in the context of the Grand Marnier acquisition completed in June 2016.
With the disposal of the Sancerre winery, Campari Group fully exits the still wine business, as part of its ongoing activities to streamline its non-core activities and increasingly focus on the core spirits business.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine
