The director of the wine subsidiary of France's leading co-operative group leaves suddenly

Tuesday May 26 2020 by Vitisphere

 InVivo has significant funds to invest since the sale, in July 2018, of its animal nutrition subsidiary, Neovia, to the American group Archer Daniels Midland Company (sale of 67.5% of shares for 1.5 billion euros). InVivo has significant funds to invest since the sale, in July 2018, of its animal nutrition subsidiary, Neovia, to the American group Archer Daniels Midland Company (sale of 67.5% of shares for 1.5 billion euros).

I can confirm that I left my management position at InVivo Wine on the evening of Monday 18 May”, said Frédéric Noyère, who has headed the wine subsidiary of the InVivo co-operative group since September 2018, following the equally sudden departure of Bertrand Girard, the former chairman of Languedoc group Vinadeis (in which InVivo is a minority investor). As was the case two years ago, the latest management vacancy is due to a conflict in strategic decision-making between the general management of InVivo Wine and the decision-makers of France’s leading co-operative group.

Bound by confidentiality clauses, Frédéric Noyère is not very forthcoming, but he explained that “this is a separation by mutual agreement with the management of the InVivo group, which follows fundamental differences over the future strategy to be pursued for the wine and spirits business”. While announcements on InVivo Wine's new strategy are expected in June, with the finalisation of a rebound plan for 2030, the French wine industry is rife with rumours about InVivo's plans to acquire and increase shareholdings. InVivo refuses to comment on the rumours as they stand.

Launched in June 2015, InVivo Wine currently boasts 9 member co-operative groups representing 3,600 winegrowers and 25,000 hectares under vine. The subsidiary has made no bones about its development ambitions, aiming for €500 million in revenue in 2020 and €1 billion by 2025. To achieve these objectives, InVivo is pursuing a sustained pace of external growth: in 2019 it acquired Café de Paris from Pernod-Ricard, in 2017 the Dutch distributor Baarsma and in 2015 the Cordier-Mestrezat and Vignobles du Soleil trading companies.

LEAVE A COMMENT

Copy the code :
Processing
© Vitisphere 2020 - Tout droit réservé