Grands Vins JC Boisset has agreed to acquire wine producer Moncigale from Marie Brizard Wine & Spirits (MBWS) for an undisclosed sum.
According to MBWS, France has seen a drop in the consumption of wine and flavoured wine-based drinks. In this context, Moncigale has been experiencing a decline in sales for several years (-15% in 2019) and is generating a negative EBITDA.
As part of a planned review of its activities in relation to their long-term value potential, MBWS, which primarily specialises in spirits, decided to divest Moncigale. Boisset is said to be the obvious choice of new owner as ‘one of the leading French operators in the wine sector’.
This transaction, which is subject to the approval of the French competition authorities, is expected to be finalised between the fourth quarter of 2020 and Q1 2021.
“With the support of the know-how and the power of the wine houses run by the Boisset family, I am convinced that Moncigale will be able to return to the growth path it deserves,” said Andrew Highcock, head of Marie Brizard Wine & Spirits.
“This agreement will allow Moncigale to secure its future by offering new prospects to its employees. After the project currently underway to sell its Polish activities, Marie Brizard is today entering a new phase that will mark a significant step forward in the completion of its strategic transformation plan with a focus on its core and profitable activities.”
Jean-Charles Boisset, Grands Vins JC Boisset president, added: “We are very happy to welcome this beautiful house specialised in rosé wines and to welcome a talented team into our family. Under the impetus of a new commercial dynamic and the implementation of operational synergies, Moncigale will be able to embark on a new path of sustainable development and participate in the success of our company.”
© FoodBev Media Ltd 2019