FRANCE - Duke Street Capital exits Marie Brizard

Duke Street Capital (DSC) has announced today the sale of its 69.3% stake in Marie Brizard & Roger International (MBRI) to French Spirits Group Belvédère, for a total consideration of EUR 397m. DSC took control of MBRI in May 2000 when the family-owned company was experiencing commercial and financial difficulties. The private equity house supplied a new management to turnaround the business, appointing Eric Brousse as chairman of the board of directors and Jean-François Le Bos as finance and strategy director. The new team accelerated internal and external growth, through exiting non-core operations and acquiring two additional alcoholic drinks businesses, Les Chais Beaucairois in August 2002 and William Pitters in March 2005. While under DSC’s control, Marie Brizard has also repositioned its brand portfolio on three strategic pillars comprising spirits, wines and non-alcoholic beverages. The group sold off its non-strategic subsidiaries such Sorevi wines (2004), SNCB wines (2003), US Marie Brizard Wines and Spirits subsidiary (2003) and its gastronomic division (2005).