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The Champagne cooperatives Centre Vinicole - Champagne Nicolas Feuillatte (CV-CNF) and the Coopérative Régionale des Vins de Champagne - Champagne Castelnau (C.R.V.C.) have postponed their announced merger from June 2021 to the end of 2021. The two producers work together with 6,000 winegrowers and winemakers.
According to the press release, the envisaged timetable for the drafting of the merger agreement and the accompanying technical annexes was too tightly calculated. The financial, legal and social audits had not yet been completed, for instance due to delays in the preparation of the 2020 consolidated financial statements.
The two leading Champagne cooperative groups also said that it was "extremely difficult to estimate" how quickly Champagne sales would recover in France and worldwide due to the uncertainty about how the global Covid 19 crisis would develop. Therefore, they decided to postpone the project until the end of the year.
(uka / Photo: Denys - French Wikipedia)