Gruppo Campari has agreed to sell its French Château de Sancerre wine business for €20.5m to Maison Ackerman, a wine division of Terrena.

As per the deal, Maison Ackerman will acquire Sancerre wines and its vineyards, vinification, production plants, and inventory. The transaction has received approval of SAFER, a local body for the development of land. It is subject to a final administrative authorisation.

Established in 1919 by Louis-Alexandre Marnier Lapostolle, the Château de Sancerre winery is spread over 55ha.

"Since the beginning of 2016 we have divested non-core assets for a total value of approximately €117m."

Château de Sancerre became part of Gruppo Campari after it acquired Grand Marnier in June last year.

Gruppo Campari's chief executive officer (CEO) Bob Kunze-Concewitz said: “With the disposal of the Sancerre winery, which follows the sale of the Italian and the Chilean still wine businesses, finalised over the last year, Gruppo Campari fully exits the still wine business, thus continuing to streamline its non-core activities and increasing its focus on the core spirits business.

“Since the beginning of 2016 we have divested non-core assets for a total value of approximately €117m.”

Image: Gruppo Campari to sell its French Château de Sancerre wine business to Maison Ackerman. Photo: courtesy of Davide Campari-Milano