LVMH Buys BSN’s Champagne House: Luxury goods...
From Times Staff and Wire Reports
LVMH Buys BSN’s Champagne House: Luxury goods group LVMH strengthened its position as France’s leading champagne producer by paying $600 million for food conglomerate BSN’s champagne house, Pommery et Lanson. The brand is not in the same circle as LVMH’s prestigious Moet et Chandon and Veuve Cliquot labels, but the purchase will increase its share of the champagne market to more than 25% from 19.5%, analysts said. Pommery had sales last year of about $200 million. LVMH is also buying the firm’s stocks of about 50 million bottles of champagne and 1,200 acres of vineyards.
