Fizz back in Champagne business
which has been run by the administrators since the spring, have
been sold to Vranken and Moët & Chandon for a combined €50m.
The assets of French group Martin will be divided between two leading Champagne houses, Vranken Monopole and Moët & Chandon (part of the LVMH group), the administrators who have been running the company since April announced earlier this week.
Martin owns the Champagne Bricout and Champagne Delbeck brands, which will now be shared by the two larger companies as part of a combined €50 million deal, according to recent press reports.
Vranken will control around 75-80 per cent of the assets bought from Martin, which includes brand names as well as stocks and production facilities.
As well as supply agreements for nine years covering more than 150 hectares of vineyards, Vranken has taken four million bottles of the two Champagne brands and six hectares of vineyards, while Moët & Chandon has taken the supply agreements for 50 hectares of land and a million bottles.
Vranken said that the acquisition would allow it to lift its sales by 10 per cent, with the additional guaranteed supplies allowing it to expand its business outside of France in particular.
