Gruppo Campari has sold the Château de Sancerre winery, continuing its full exit from the still wine business.
The reported price of the sale was $22.97 million. The buyer was Maison Ackerman, the wine division of Terrena, a France-based company with diversified interests in the agriculture industry.
The sold business consists of the Sancerre wines as well as buildings, vineyards, vinification, production plants and inventory. In the fiscal year that ended December 31, 2016, the Château de Sancerre winery reportedly achieved total sales of $3.92 million.
The sale continues Gruppo Campari’s recent efforts to exit still wine in favor of spirits. In the past year the global drinks company has sold off the Lapostolle wine brand, as well as the Italian wineries Sella & Mosca and Teruzzi & Puthod.
Pursuant to the local legislation, the transaction — which has received the approval of the SAFER, the local body for the development of land — is subject to a final administrative authorization.
The transaction will be closed once such authorization is obtained.
The Château de Sancerre winery spans over 55 hectares of vineyards and its portfolio is comprised of 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 entered into Gruppo Campari’s perimeter in the context of the Grand Marnier acquisition completed in June 2016.
“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,” says Bob Kunze-Concewitz, CEO, Gruppo Campari “Since the beginning of 2016 we have divested non-core assets for a total value of approximately $131.12 million.”