Bouvet Ladubay, an effervescent saga

What does Bouvet Ladubay's business consist of today?

Juliette Monmousseau: Since the company was created in 1851, we have specialised in sparkling wines with the "Saumur Brut" and "Crémant de Loire" appellations. One of our distinctive features is that we make high-end wines that are matured in oak barrels. This style, which we have been developing for several decades, has given us an excellent reputation in all the maintain international wine competitions.

The international market also accounts for a very large proportion of your sales.

J.M.: Yes, we are the Loire valley's leading exporter of sparkling wines. We generate 60% of our revenue from outside France, and we sell our wines to more than 45 countries. Our leading foreign markets are Germany (the world's leading importer of sparkling wines), the UK and the USA. We also sell to South Korea and Taiwan. In the last five years, the global sparkling wine market has grown very quickly, with 2.5 billion bottles sold in 2016. It has grown more quickly than the still wine market.

Projections for the next few years are also encouraging. However, the trend is also prompting the emergence of new competitors, with countries like England, China and even India producing their own sparkling wines.

How are you dealing with this simultaneous growth in both demand and competition?

J.M.: In 2008, we invested in a new high-tech wine storehouse, which has enabled us to double our production. As regards the competition, we are making the most of our historical advantages. First and foremost, that means our quality, since we have demanded excellence from the outset. We also benefit from the fact that wines from the Loire valley are attractively priced compared with other regions. Finally, our name is now associated with a passion for culture in various forms. We have established partnerships with numerous artistic events in the fields of music, cinema, theatre, dance and, of course, art, which is our main source of pride. This summer, we are celebrating the 25th anniversary of the Bouvet Ladubay contemporary arts centre.

Bouvet Ladubay also has a long family history.

J.M.: For more than 80 years, Bouvet Ladubay has been led by a member of the Monmousseau family, although its ownership has changed hands a lot. Our family, which had owned a wine business in Touraine since 1886, acquired Bouvet Ladubay in 1932. In the 1970s, when both companies were listed on the stock market, some family members wanted to sell their shares. The Taittinger group bought the shares, on the condition that the family remained at the head of each company. At Bouvet Ladubay, my father Patrice had just taken over as manager. In 2005, when the Taittinger group was acquired itself, we became part of the Indian group United Spirits Limited, which sold some of its assets to Diageo in 2014. At that point, we became independent again. Diageo, the world's largest spirits group, wanted to withdraw from the wine business and accepted our buyout proposal. The LBO was completed in November 2015.

What role did Crédit Mutuel Equity play in the buyout?

J.M.: We had a fairly small window of opportunity to do the deal. We needed to find partners quickly.

We liked Crédit Mutuel Equity (formerly CM-CIC Investissement)'s regional focus, they understood the situation we were facing and they immediately provided a solution. Today, they are genuine partners and we are very happy to be working with them.