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Christmas gift tip: champagne for sale

>> Wednesday, December 22, 2010

Piper-Heidsieck and Charles Heidsieck are two champagne houses both belonging to Remy Cointreau SA. According to Bloomberg, Remy is now looking to sell the two houses. The champagne business made an operating loss of 4 m euro for the 12 months to March this year. Remy Cointreau wants to focus on its core spirits activity (more profitable), and above all cognac. The company is of course the owners of Cognac Remy Martin. the prospective buyer should contact Credit Agricole, the bank that has been tasked with finding a purchaser. Read more bloomberg.com

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