It’s a merger that a lot of noise in the wine sector in France. Known for their champagne, the Henriot family joins forces with billionaire François Pinault to create a global giant
Article written by
Posted
Reading time : 1 min.
Champagne! An extraordinary marriage now unites two famous French wine heritages. Bordeaux and Burgundy go hand in hand to carry the colors of French wine loud and clear all over the world. Henriot is 130 hectares of Bouchard Père et Fils, the William Fèvre estate, the largest operator in Chablis. The empire is getting closer to the wine subsidiary of Kering, another luxury empire via its subsidiary Artemis Domaines (owner in particular of the exceptional wine Château Latour in the Médoc). This allows François Pinault to put his foot in the bubble, champagne, wine of the party par excellence.
Terms are important. This is not a takeover of Henriot by Pinault, but a merger operation. François Pinault takes three quarters of the new group, the Henriot family 25%. This values the whole between 700 to 800 million euros. For François Pinault, it’s a masterstroke achieved in record time where it takes the big houses hundreds of years and generations to build up such a heritage. Henriot’s underground galleries in Burgundy now house some two million bottles.
The new entity will have some 400 employees, but each party will of course retain its identity. This is what will make the cultural and commercial strength of the adventure. This marriage comes at a time when sales of Burgundy wines are falling, particularly in large retailers in France: less 25% in volume between January and August compared to the same period last year. The trend is also found in exports. As for the 2021 harvest, it was modest, with a third less than traditionally due to the spring frosts. But the 2022 vintage promises to be exceptional, says the interprofession. To consume with moderation.