Pichon-Lalande in sale talks
May 9, 2006
Oliver Styles
Pichon-Lalande's board of directors is in advanced takeover talks with the Hermes family, it was confirmed this morning.
According to finance director, Jean-Claude Lafrance, the second growth Bordeaux chateau is examining offers from five to ten potential buyers with the Hermes bid favourite to win.
Although there have been reports that a deal has been reached with the Hermes family, owners of the Parisian fashion house of the same name, Lafrance was adamant that no agreement had been reached.
'Nothing has been signed,' he told decanter.com.
He did say, however, that the Hermes family had tabled the best offer so far, adding that it would be more 'an alliance' than a takeover.
'Their bid is the closest to what we're looking for,' he said.
It is not known whether the Hermes family would buy a majority or minority stake in the chateau.
The decision to sell was a consensual one, taken by the chateau's family shareholders. The Pauillac-based chateau is currently run by 80 year-old Bordeaux wine industry doyenne, May Eliane de Lencquesaing.
Lafrance said the board was examining all the offers tabled but could not say when a deal would be reached.
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