MBWS board shifts to reflect ownership

Castel Group’s Laurence Dequatre has stepped down from the Marie Brizard Wine & Spirits (MBWS) board to make way for a La Compagnie Financière Européenne de Prises de Participation (COFEPP) representative.

The changes come “in order to better reflect the current shareholder structure of Marie Brizard Wine & Spirits”, the company said in a statement.

As of February 2017, COFEPP holds 21.89% of share capital and 21.70% of voting rights.

MBWS offered Dequatre’s seat to COFEPP, and will propose the move for ratification at the next shareholder AGM, set to take place on 27 June.

In its 2016/17 financial year, MBWS saw its sales fall by €14.6 million (US$15.9), caused by destocking following a number of new distribution contracts in key markets.