Heidsieck sold to EPI
French company Société Européenne de Participations Industrielles (EPI) has bought Rémy 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 Rémy Cointreau saw sales of €97m in 2009/10 and had promised to break even this year. Rémy 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.
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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.
Rupert Millar, 17.03.2011
