The champagne house Vranken-Pommery, renamed Pommery & Associés, announced the start of exclusive negotiations with German specialist Henkell for a majority stake.
The Reims-based group owned by the Vranken family stands on the brink of bankruptcy due to excessive debt. Unable to repay a 45 million euro bond maturity, it sells between 18 and 20 million bottles annually.
Paul-François Vranken, the third-largest champagne négociant after LVMH and Pernod Ricard, has resolved to sell control after 50 years of entrepreneurial activity. Exclusive negotiations began in early June.
“If they reach that point, they must really be desperate!” a sector observer reacted. The project would end the independence of the prestigious house.
