PARIS (Reuters) - InVivo Wine has entered into exclusive talks with shareholders of Vinadeis to take control of the wine group based in southern France, in a bid to increase its international reach, it said on Wednesday.
The takeover will be a new step in InVivo’s expansion into wine, which started in 2015. InVivo Wine, part of French cooperative group InVivo, also an large operator in the grains market, already had a 10% stake in Vinadeis.
“A majority stake would give birth to a leading wine operator in France and abroad, making it possible to aggregate production tools and commercial distribution channels and further increase the strength of ... the two group’s brands,” InVivo Wine said in a statement.
The current owners of Vinadeis are cooperatives Les Vignobles de Vendéole et Val d’Orbieu.
InVivo, which had sales of 225 million euros ($252.47 million) last season based on 25,000 hectares of vineyards across southwestern France, sells its wine in Western Europe, North America, Asia and South Africa.
Vinadeis collects wine from 15,000 hectares in the southern part of France.
Reporting by Sybille de La Hamaide. Editing by Jane Merriman
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