Piper-Heidsieck Champagne Brand On The Block
Booze brand Rémy Cointreau has put its Piper-Heidsieck and Charles Heidsieck Champagne brands up for sale in a deal which could raise as much as 450 million euros. Possible suitors for the brands include other drinks conglomerates such as Diageo and Pernod Ricard but a private equity group could also snap up the champagne seller. Decanter reports that Piper has never been profitable in the 20 years that Rémy Cointreau has owned it. While Piper president Anne-Charlotte Amory has spent the past few years trying to build the brand, the global recession chipped away at sales and the brand cut 45 jobs earlier this year.