FRANCE - Butler turns down Lanson International

Following Butler Capital Partner’s (BCP) decision to abandon its bid to buy Lanson International, Boizel Chanoine stepped in with an offer. The rival champagne producer acquired France’s second largest champagne producer for an estimated EUR 520m, including EUR 400m of debt. After signing an exclusive agreement with Lanson International in November 2005, BCP chose to break off negotiations due to concerns over the company’s debt levels. La Caisse National des Caisses d’Epargne previously held a 44% stake in the business, while the Mora family owned a 56% interest. The former has retained a minority shareholding in the company. Lanson Internationals sells champagne under a number of brands including Besserat de Bellefon, Alfred Rothschild, Massé and Gauthier.