In a move which marks Gruppo Campari’s full withdrawal from the wine industry, it was today announced that it has reached an agreement for the sale of the French Chateau de Sancerre wine business, worth €20.5m.
The business will sell to Maison Ackerman - the wine division of Terrena, a France-based company with diversified interests in the agriculture industry - once the transaction is given the go-ahead in the form of an administrative authorisation according to local laws.
It has already received the approval of SAFER, the local body for land development.
‘With the disposal of the Sancerre winery, which follows the sale of the Italian and the Chilean still wine businesses, finalised over the last year, Gruppo Campari fully exits the still wine business, thus continuing to streamline its non-core activities and increasing its focus on the core spirits business,’ said Bob Kunze-Concewitz, chief executive officer of Gruppo Campari.
‘Since the beginning of 2016 we have divested non-core assets for a total value of approximately €117m.’
The winery, which was founded in 1919 by Louis-Alexandre Marnier Lapostolle, the creator of Grand Marnier liqueur, fell into Gruppo Campari’s hands in June 2016, following its acquisition of Grand Marnier.
The sold business consists of the Sancerre wines as well as buildings, vineyards, vinification, production plants and inventory. Spanning over 55 hectares of vineyards, its portfolio is comprised of highly acclaimed wines from the Loire Valley in France.
In the fiscal year ended 31 December 2016 the Chateau de Sancerre winery achieved total sales of €3.5m.
As the sixth-largest player in the world spirits industry, Gruppo Campari’s growth strategy involves organic growth combined with selective acquisitions, with priority brands including Aperol, Appleton Estate, Campari, Skyy, Wild Turkey and Grand Marnier.
While you're here…
Have you registered for the on-trade’s favourite drinks show yet? Imbibe Live is taking place on 3-4 July at Olympia London.
If you don't already know, Imbibe Live is the innovative and interactive annual exhibition for anyone who sources, buys or serves drinks in the licensed on-trade. From sommeliers to buyers and from managers to publicans and bartenders, this essential date in the drinks calendar will see the industry’s finest come together.
Register today: https://www.imbibe.com/live
We can’t wait to see you there!