A bankruptcy judge in Alsace has approved the sale of Domaine Lucien Albrecht’s brand and five hectares vineyards to local cooperative Wolfberger.
Eguisheim-based Wolfberger, which also produces the Willm brand, beat Grands Chais de France, to the deal.
Many were shocked when Domaine Lucien Albrecht went into receivership earlier this month, with reported debt of €9m. It was the second biggest exporter of Alsace wines to the US by volume.
According to Wolfberger export director Eric Alonso, Wolfberger paid €500,000 for the brand and €700,000 for the vineyards. The sale does not include buildings or equipment.
‘The creditors will not be paid as part of this settlement, but we committed to hire seven people among the 12 people from the staff of Albrecht, including Marie Albrecht, who is the commercial director, and her mother,’ Alonso told Decanter.com.
‘We will try to maintain all of the markets that Albrecht currently has and will hopefully develop some new ones,’ he said, noting that the Albrecht wines will complement what they are already producing.
Alonso said that he has already been in touch with Albrecht’s overseas partners to assure them that Wolfberger is prepared to produce enough Albrecht wines at its own winery in Eguisheim to meet demand.
Written by Tim Teichgraeber