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Campari sells Château de Sancerre winery for €20.5m
Gruppo Campari has sold its Château de Sancerre winery for €20.5 million, completing its exit from the still wine business.
The group confirmed this morning that it sold the last remaining part of its still wine business to Maison Ackerman, the wine division of Terrena, a France-based company with diversified interests in the agriculture industry, for €20.5m.
Founded in 1919 by Louis-Alexandre Marnier Lapostolle, the creator of Grand Marnier liqueur, the Château de Sancerre estate comprises 55 hectares of vineyards and a portfolio of wines from the Loire Valley in France. It was acquired by Gruppo Campari followings its acquisition of Grand Marnier in June 2016. During the financial year ending 31 December 2016, the Château de Sancerre winery achieved total sales of € 3.5m.
Its sale to Maison Ackerman includes its brand, as well as its buildings, vineyards, vinification, production plants and inventory.
“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 € 117 million.”
The sale of its Sancerre estate follows its disposal of the Lapostolle winery in Chile, which it sold back to its founder earlier this year for €30 million, and the sale of its Sardinian wine estate Azienda Vinicola Tenute Sella & Mosca and Tuscan estate Teruzzi & Puthod to the Terra Moretti group for €62 million in 2016.
Cementing its commitments to the spirits sector, earlier this year the group bought London Dry gin brand Bulldog for £46.8m to strengthen its premium position in the on-trade.
Its other spirits brands include Aperol, Appleton Estate rum, Campari, SKYY vodka, Wild Turkey bourbon and Grand Marnier liqueur.