After selling its champagne branch in 2011, Rémy Cointreau is preparing to acquire a majority stake in the capital of Champagne de Telmont. The amount of the transaction was not disclosed.
“The Rémy Cointreau group announces that it is in exclusive negotiations with the Lhopital family with a view to acquiring a majority stake in the capital of the Champagne de Telmont company,” the group said.
The J. de Telmont house, established in Damery, near Epernay, since its creation in 1912 “is one of the last family estates in Champagne”, said the Rémy Cointreau group.
“Mr Bertrand Lhopital, alongside the Rémy Cointreau group, will continue the work begun with his team both upstream (vines, supply) and in the production of the champagnes, to perpetuate the family’s know-how and tradition”, added Rémy Cointreau.
The scope of the acquisition offer includes the brands, inventories, production tools, and real estate assets of the estate as well as vineyards in Champagne.
This is an undeniable opportunity for the spirits group to expand its portfolio of exceptional wines and spirits and thus begin its international development.
The stock market approved this return to the champagne market: the stock gained 2.63% the day after the mid-session announcement, bringing its gain since the beginning of the year to 7%.
The latter hopes to finalize the transaction in the third quarter of fiscal 2020-2021.
Featured photo : © Champagne Telmont[/vc_column_text][/vc_column][/vc_row]