LVMH, owner of luxury Champagne marques Dom Perignon, Krug, Veuve Clicquot and Moet & Chandon, is to sell its Pommery brand.
The giant conglomerate is currently in negotiation with the Vranken Monopole group, which also owns Heidsieck & Co, and an announcement is expected in the next few weeks.
The sale is expected to include the Pommery brand name, along with many of the Champagne house’s assets, including its Reims offices, cellars and stock. LVMH is expected to retain key hectares of the Pommery vineyards, especially those located in strategic cru areas of Champagne.
While neither side is prepared to discuss the figures at present, Pommery’s price is rumoured to be in the region of €150-180 million (US$130-160 million).
Once divested of the Pommery stock, LVMH plans to focus its resources on its star brands.
Written by Natasha Hughes3 April 2002
