Champagne Maker Laurent-Perrier’s Owners Said to Mull Stake Saleby , , and
Majority owner Nonancourt family said to be exploring options
Laurent-Perrier is world’s fourth-biggest champagne maker
The owners of French champagne producer Laurent-Perrier are exploring strategic options including a stake sale, according to people familiar with the matter.
The Nonancourt family, which owns about 60 percent of the maker of Ultra Brut and Cuvée Rosé champagnes, has informally discussed options including a partial or full stake sale, the people said, asking not to be identified as the details aren’t public. Deliberations are preliminary, no final decision has been made and the family could decide against a stake sale, the people said.
“The information is not correct as it is not in the family’s near-term or long-term plan to cede the company,” Arnaud Richard, a spokesman for Laurent-Perrier, said on Friday.
Any sale of the 204-year-old business could attract big drinkmakers like LVMH Moet Hennessy Louis Vuitton SE and Remy Cointreau SA, who have both been on the hunt for deals. Remy Cointreau Chief Executive Officer Valerie Chapoulaud-Floquet has said that the company is on the lookout to acquire champagne brands after an agreement to distribute Charles Heidsieck and Piper-Heidsieck champagnes ended in 2015. LVMH’s sales of champagne in the U.S. have helped insulate it from a broader slowdown in the luxury sector.
Representatives for LVMH and Remy declined to comment.
Laurent-Perrier is the fourth-biggest champagne maker in the world with about 4.3 percent of the global market, according to its annual report. Its shares have fallen about 16 percent this year, trimming its market value to 413 million euros ($452 million). The company reported a 10.2 percent rise in net income to 25.2 million euros for the year ending in March, helped by growing demand for its spirits in key markets like the U.S.