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French Champagne and wine producer Maison Pommery & Associés and German sparkling wine enterprise Henkell International have concluded exclusive discussions regarding a proposed strategic partnership without reaching an agreement.
The negotiations, which commenced on 2 June 2026, centred on a potential transaction that could have seen Henkell International, a subsidiary of Henkell Freixenet, acquire a majority stake in Maison Pommery & Associés.
The agreed exclusivity period expired on 31 July 2026. Both companies confirmed that while negotiations have come to a preliminary end at this stage, both parties remain open to resuming discussions in the future.
Deleveraging Strategy and Asset Disposals
Following the conclusion of the exclusivity window on 1 August 2026, Maison Pommery & Associés confirmed it is free to pursue potential asset sales and financial restructuring transactions to strengthen its equity position.
The group is currently in advanced negotiations with multiple parties regarding the disposal of non-strategic assets in the Camargue region. The company is targeting approximately €100 million from the sale of non-core assets, primarily across Southern Europe.
The strategy aims to reduce total inventory values by approximately €100 million between 2027 and 2030, equivalent to an annual reduction of €25 million over four years.
Financial Agreement
Concurrently, Maison Pommery & Associés and nine of its operating subsidiaries have reached an agreement with key financial partners to secure liquidity requirements through 19 June 2027.
The conciliation agreement, approved by the Reims Commercial Court, provides funding to cover operational expenses and commitments ahead of the 2026 harvest, which is expected to occur earlier than usual.
Key provisions of the financial structure include:
Maturity Extension: The agreement includes an option to extend the maturity date to 19 June 2028, subject to extending the maturity of a €45 million bond issued in May 2019.
Asset Security: Maison Pommery and subsidiary Vranken-Pommery Production have granted security interests over specific group assets, including pledges over SAS Pommery shares and vineyard equity holdings.
Operational Governance: The framework establishes ongoing monitoring of cash flow, inventory levels, and business plan implementation to support long-term debt reduction goals.
Maison Pommery & Associés confirmed it will publish its 2025 Universal Registration Document alongside its 2026 half-year financial report on 7 September 2026, ahead of its General Meeting of Shareholders on 19 October 2026 in Reims.
