Diageo Sheds Another Wine Asset, Selling France’s Bouvet LadubayNovember 25, 2015
Diageo, which has made a concerted effort to cull its wine business in recent months, has taken another step in that direction by selling Bouvet Ladubay to a consortium featuring the Monmousseau family, which has managed the Loire-based sparkling wine producer since the 1930s. The price wasn’t disclosed.
Diageo took on Bouvet Ladubay when it acquired India’s United Spirits Ltd. last year. USL parent UB Group had purchased the French winery for €15 million ($15.9m) in 2005. The Monmousseaus teamed with Ouest Croissance, CM CIC Investments and Unigrains to regain control of Bouvet Ladubay, which sells around 500,000 cases of wine annually. Bouvet Ladubay is handled by Kobrand in the U.S. market.
Last month, Diageo agreed to sell most of its U.S. and U.K. wine interests to Treasury Wine Estates for $600 million. Earlier this month, the company struck a deal to sell its Argentine wine business to Grupo Peñaflor. Diageo has also put California’s Chalone Vineyards on the block.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.