Larraqué buys and invests more than €20 million in Cheval Quancard's Bordeaux wines

I am inquisitive. I never stop looking at companies with balanced books and inquire about the inheritance situation in order to find opportunities," says Pierre Jean Larraqué, chairman of the Larraqué Vins International (LVI) group. After contacting Cheval Quancard two years ago, the Bordeaux negociant completed the purchase on 29 July and took over at its helm; Roland Quancard will be leaving the company in a few weeks’ time. With other buyers in the running, “when you take the bride, you take everything”, explains Larraqué, who now chairs a group marketing a total equivalent of 22 million bottles generating revenue of around 70 million euros.

On top of the LVI group’s existing Haussmann brands and Pierre Jean Larraqué vineyards, Cheval Quancard brings a new head office – in Carbon Blanc, due to be extended – new logistics facilities (with warehouses, also due to be extended), and new brands to address new distribution networks. LVI is very active in super and hypermarkets, but has only a minor presence in wine shops and restaurants. It will be relying on the Cheval Quancard, Clémence and Hortense brands to rectify this; Hortense is the leading brand in the Entre-deux-Mers appellation area.

With a now-broadened portfolio, LVI describes itself as an “alternative to the large groups (Castel, Grands Chais de France...) which revolve around strong brands. Haussmann offers an alternative with producer labels from Bordeaux – including the IGP Atlantique – Pays d'Oc, Provence and Côtes-du-Rhône”, stresses Larraqué.

Funded by equity and bank loans, the takeover amounts to “a fairly large sum of money”, admits Larraqué, pointing to an amount “in excess of two dozen million euros” for the takeover, internal restructuring and investments, including the €2.5 million earmarked for expanding the Carbon Blanc head office, which is due to open in early 2024.