Gruppo Campari Confirms Full Exit From Still Wine
Italian drinks group Gruppo Campari has agreed the disposal of the French Château de Sancerre wine business to Maison Ackerman, the wine division of Terrena, a France-based company with diversified interests in the agriculture industry.
Bob Kunze-Concewitz, chief executive of Gruppo Campari.
The enterprise value is €20.5 million. The sold business consists of the Sancerre wines as well as buildings, vineyards, vinification, production plants and inventory. In the fiscal year ended 31 December 2016 the Château de Sancerre winery achieved total sales of €3.5 million.
The Château de Sancerre winery spans over 55 hectares of vineyards and its portfolio is comprised of highly acclaimed wines from the Loire Valley in France. The winery was founded in 1919 by Louis-Alexandre Marnier Lapostolle, the creator of Grand Marnier liqueur, and became part of Gruppo Campari following the Grand Marnier acquisition completed in June 2016.
Bob Kunze-Concewitz, chief executive of Gruppo Campari, comments: “With the disposal of the Sancerre winery, which follows the sale of the Italian and the Chilean still wine businesses, finalized 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. Since the beginning of 2016 we have divested non-core assets for a total value of approximately €117 million.”
