Bordeaux-based wine and spirit company Marie Brizard is reportedly for sale, two years after being bought by troubled French vodka company Belvedere.
French financial paper Les Echos reported today that Belvedere was keen to reduce current debt levels estimated at €425m (£332m), possibly by selling some or all of Marie Brizard and its subsidiary, Chais Baucairois.
Marie Brizard, best known for its whisky brand, William Peel, also owns wine brands Mateus, Montcigale, St Jean d’Oc, Bodegas Marques de Puerto, Duc de Birac and Eclat du Rhone.
Belvedere owner and founder, Jacques Rouvroy, told decanter.com he could not comment on a sale.
However the article, which also quotes Rouvroy as saying discussions on the sale of 15% of Belvedere to investors were ‘well advanced’, said potential buyers of Marie Brizard already exist.
Belvedere is currently operating under French judicial protection from bankruptcy, which can last from six to 12 months.
Written by Sophie Kevany