Diageo sells French wine company, Bouvet Ladubay in a bid to exit wine market
Diageo, the world’s largest spirit maker has sold its French sparkling wine company, Bouvet Ladubay, a company it inherited when it acquired India’s United Spirits, a unit of UB Group in 2012.
The new buyer is the Monmousseau family, the original owners, through three private-equity firms . The terms of the deal were not disclosed.
Diageo has made its intention to exit the wine market as soon as it can find buyers for its remaining assets. In the last few months, the company has been selling off its wine assets, beginning in October with the sale of several brands in both the US and the UK, including Blossom Hill to Treasury Wine Estates, an Australian company. That was followed by sale of its Argentine assets to Grupo Penaflor.
Bouvet Ladubay was originally purchased by UB Group of India in 2006 and was rolled into its United Spirits division. Diageo bought into United Spirits in 2012, before taking full control in July 2014.