France’s Domaine Lafage buys local wine cooperative

French vino concern Domaine Lafage has taken implicit section vino cooperative Groupement Interproducteurs du Collioure Banyuls (GICB).

In a station connected LinkedIn, the family-run radical confirmed the acquisition of GICB, which operates successful the Côte Vermeille region.

"Following the determination handed down by the Court of First Instance of Perpignan, Domaine Lafage takes implicit the activities of the Groupement Interproducteurs Collioure Banyuls (GICB)," it said.

According to nationalist French broadcaster Ici, Domaine Lafage was the sole bidder for GICB, and acquired the radical for €1.5m. It has reportedly pledged to put €10m successful the business.

The outlet said GICB had been facing indebtedness of adjacent to €20m, and had been placed nether court-ordered administration.

According to France's concern directory, GICB was registered successful 1863 and specialises successful producing inactive wines. As of 2023, it had up to 199 employees.

Following the purchase, Domaine Lafage is renaming the concern Terrasses Vermeilles, it said.

"The Lafage family's committedness to this takeover reflects a tendency to sphere an exceptional corporate practice and to physique a sustainable aboriginal for the Banyuls and Collioure appellations, their producers and their employees."

According to Ici, Domaine Lafage has said the caller Terrasses Vermeilles task brings unneurotic astir 500 producers and 500 hectares of vineyard, and volition marque up 60% of the accumulation successful the Banyuls and Collioure appellations.

The radical added: "The enactment presently underway to accommodate Mediterranean vineyards to clime alteration volition beryllium applied to the Banyuls wine-growing portion successful bid to fortify its resilience and hole for the future.

"The historical Templiers site, the iconic brands, the expertise and the individuality of the appellations volition beryllium preserved. These volition signifier the instauration upon which Terrasses Vermeilles volition physique its aboriginal development."

According to Ici's report, Domaine Lafage concern is owed to clasp the bulk of unit from GICB.

Domaine Lafage produces red, achromatic rosé, saccharine and sparkling wines from plots crossed the Roussillon terroirs.

"France's Domaine Lafage buys section vino cooperative" was primitively created and published by Just Drinks, a GlobalData owned brand.