LVMH buys into Whispering Angel
French luxury group LVMH has taken a 55% stake in Provence rosé producer Château d’Esclans.
LVMH bought Provençal estate Château Galoupet in May this year in order to bolster its own rosé wine portfolio and now has gone a stage further by buying a controlling stake in d’Esclans
While LVMH’s own wine and spirit stable includes names such as Moët & Chandon, Krug and Hennessy.
According to a release sent out by the estate, LVMH acquired the 50% stake ceded by co-owner Hervé Vinciguerra and a further 5% stake from Sacha Lichine, the driving force behind the brand.
The amount paid was not revealed.
Acquired by Lichine in 2006, d’Esclans produces a number of rosé wines such as Whispering Angel, Rock Angel and Garrus – which at one point was the most expensive still rosé on the market – which have become market leaders in the booming rosé category.
Lichine has retained the remaining stakes in the business it was reported.
Lichine said: “I am delighted by the alliance with Moët Hennessy and the ability, through the backing of this great group, to continue to develop the estate in producing excellent Provence Rosés to present and share with my clients across the globe. In purchasing Château d’Esclans in 2006, my aim was to produce a rosé wine in the manner of a fine wine. Today, with the Château d’Esclans team, I created a portfolio of wine brands known in France and internationally and intend to maintain strong growth over the next several years.”
Philippe Schaus, CEO of Moët Hennessy, added: “We are very proud to partner with Château d’Esclans, a notable estate with high-quality wines. Sacha Lichine revolutionised the world of Provence Rosé wines and its international development, displaying the soundness of vision of a man with strong convictions and values. Moët Hennessy will bring the full support of our worldwide teams to assist Sacha Lichine to continue this marvelous adventure.”