France: Wine producers Jeanjean and Laroche have merged to form a new group called Advini.
According to the new company, Advini will be the third largest wine producer in France, with 1,450 hectares of vines across the South of France, Chablis and the New World. The company has an annual turnover of €190m.
The Jeanjean family holds 49% of the capital and the Laroche family 11%. A group of private shareholders and business leaders make up the balance of the core shareholders. The remainder of the shares are held by small shareholders within the framework of the company’s flotation on the Euronext stock exchange in Paris.
The headquarters of the new group is based in Saint-Felix de Lodez, near Montpellier, formerly Jeanjean’s HQ.
Advini employs 540 staff and vineyards include Ogier and le Clos de l’Oratoire in Châteauneuf-du-Pape, Grassier in Provence, Jeanjean in Languedoc, Laroche in Chablis as well as vineyards in Chile and South Africa.
57% of the new group’s turnover is made in France (39% multiple grocers and 15% in the on-trade and through independent retailers.)
43% of sales are made in export markets (Northern Europe 14.7%, North America 15.9%, Western Europe 52.4% and others 17%.)
Jeanjean chairman Antoine Leccia said: “This merger follows the logic of an increasing level of concentration within the French wine sector. It represents a vital step in the light of the challenges facing the wine industry worldwide. It is also perfectly coherent with the group’s strategy of moving towards premium quality.”