EPI, a private family-owned (French) investment company has taken a stake in Folio Fine Wine Partners and will become a majority shareholder. Terms weren’t disclosed, but a spokesperson said the investment enables Folio to retain a cash reserve to finance its working capital, to buy back share units currently held by Folio ‘s employee partners and will enable the company to grow and attract new brands.
Who is EPI? It’s a private family-owned investment company chaired by Christofer Descours which owns several business divisions: Fashion and Luxury (Bonpoint, J.M. Weston); Wines and Champagne with world-class Houses (Piper-Heidsieck, Charles Heidsieck, Biondi-Santi.) and financial investments including real estate.
Folio has built a global portfolio of top family-owned producers in the best winemaking regions and also has built the Charles Heidsieck Champagne brand, owned by EPI, in both brand awareness and volume and value sales in the U.S. since joining Folio. We understand the Heidsieck business more than doubled in five years.
Michael Mondavi will continue as Chairman of the newly formed Folio Fine Wine Partners Board, and Damien Lafaurie, President of EPI’s Wine and Champagne Division, will join Folio’s Board of Directors. Paolo Battegazzore will continue as CEO of Folio Fine Wine Partners with his existing leadership team.