Laroche winery sold to Jeanjean

The well known wine producer Laroche has now been sold to Jeanjean. Michel Laroche thereby concludes his efforts to sell the company that he has created. Laroche has vineyards and négociant activities in Chablis (100 ha of vineyards), in the Languedoc (Mas la Chevalière, 40 ha), Chile (Vino Punto Alto, 23 ha), and in south Africa (l’Avenir, 75 ha). Michel Laroche has been very successful in building his business, not least internationally, but has recently suffered some difficulties. For the latest accounting year (’08-’09) the turnover reached 27.3 M€, down by 17%, with a net loss of -1.6 M€. The previous year the loss was -0.6 M€. With this acquisition Jeanjean takes a substantial step up the quality ladder. Jeanjean is also a family business, base in the Languedoc region, but more focused on lower priced wines. The merged business will include 1450 ha of vines and is estimated to reach a turnover of 200 M€. It will operate under a new name (neither Jeanjean nor Laroche). Michel Laroche will remain in charge of the operations in Chablis for two years. According to Decanter the deal is valued at 52 M€ (24 M€ cash and 28 M€ in assumed debts). It is also said that Laroche will own 12.7% of the merged business. More info vitisphere.com and decanter.com