Piper-Heidsieck and Charles Heidsieck sold to clothing holding

Piper-HeidsieckAccording to Decanter, the French drinks group Remy Contreau has sold Champagnes Piper-Heidsieck and Charles Heidsieck for 400 million euros to the Société Européenne de Participations Industrielles (EPI), the holding of the French family Descours, which is mainly active in the clothing sector. EPI controls the clothing brands JM Weston, Francois Pinet, Alain Figaret and Bonpoint. The Descours family also owns Chateau La Verrerie in the Côtes du Luberon. Piper-Heidsieck was founded in 1785, but later split into the separate brands Piper-Heidsieck, Charles Heidsieck and Heidsieck Monopole, now part of Vranken Pommery. According to Reuters, the champagne devision of Remy Contreau last year had a turnover of 97 million euros, or 12 per cent of the total turnover of the French drinks group. But the champagne devision made a loss of 4 million euros due to the financial crisis. EPI will largely maintain the current organization and staff of the brands . The Descours family is worth over 700 million euros, according to the French website Descours Challenges.fr. The family holding lost a considerable amount of money in the financial crisis of 2008. In 2007 the family capital was worth 1.2 billion euros.