Laurent Perrier’s Owners Said To Be Exploring Stake SaleOctober 31, 2016
The owners of Laurent-Perrier, one of the world’s biggest Champagne suppliers, are considering a stake sale, according to Bloomberg. Citing “people familiar with the matter,” the news outlet reports that the de Nonancourt family, which owns around 60% of Laurent-Perrier (and nearly 75% of its voting rights), has informally discussed strategic options—including a partial or full sale of its stake.
However, a spokesperson for Laurent-Perrier told Bloomberg that the de Nonancourts have no plans to “cede the company.”
Founded more than 200 years ago, Laurent-Perrier is the fourth-largest Champagne supplier, with yearly shipments of more than 1.1 million cases, according to Imapct Databank. More than half of that comes from the company’s flagship Laurent-Perrier brand, which ranked fifth worldwide at 625,000 cases in 2015. Laurent-Perrier is also a key supplier of private label Champagnes in Europe.
Exports account for roughly two-thirds of the company’s business on a value basis, but Laurent-Perrier is a relatively small player in the U.S. Champagne market. Its name brand ranks ninth, selling approximately 30,000 cases annually.
After an up-and-down performance over the past few years, Laurent Perrier’s shares currently hover around the €70 ($77) mark—roughly the same price they were five years ago. The company’s market capitalization is currently about €416 million ($456m).Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.