Press Release : Successful negotiations with financial partners. Maison Pommery & Associés secures its liquidity position. Exclusivity period with Henkell International ends without an agreement at this stage
Press Release Successful negotiations with financial partners Maison Pommery & Associés secures its liquidity position Exclusivity period with Henkell International ends without an agreement at this stage
Reims, 5 August 2026
Maison Pommery & Associés secures its liquidity position
Maison Pommery & Associés and nine of its subsidiaries have reached an agreement with their main financial partners to meet their financing requirements through 19 June 2027 (the “Maturity Date”), with the possibility of an extension until June 2028, subject to the fulfilment of certain conditions set out below.
This conciliation agreement, approved today by the Reims Commercial Court, enables Maison Pommery & Associés to approach the coming period with confidence, with its liquidity position secured.
It provides the Group with the financial resources required to meet the conditions necessary for the 2026 harvest, which is expected to take place earlier than usual, and to ensure payment of the related operating expenses and commitments.
The conclusion of this agreement marks an important milestone in the stabilization of the Group’s financial structure.
It enables the Group to continue implementing its operational priorities and planned deleveraging program, while pursuing discussions regarding a potential strategic partnership.
The conciliation agreement notably provides for:
- The provision, from early September 2026 until the Maturity Date, of €42.8 million in additional financing, bearing interest at a rate equal to 3-month Euribor plus 3.5%, with the lenders benefiting from the conciliation privilege and security interests;
- The maintenance or extension until the Maturity Date of short- and medium-term bank facilities whose maturity dates fall prior to the Maturity Date, including the €50 million loan granted by Natixis, which matured on 31 May 2026;
- A principal repayment holiday on the Group’s main medium-term facilities until the Maturity Date and, where applicable, a partial principal repayment holiday until 19 June 2028 should the Maturity Date be extended;
- The restructuring of several financing facilities, including facilities dedicated to the financing of inventory ageing;
- The suspension of the consequences of existing or potential events of default under the financing documentation that could otherwise have resulted in the facilities becoming immediately due and payable.
- The granting by Maison Pommery & Associés and its subsidiary Vranken-Pommery Production of security interests over certain Group assets in Champagne, including pledges over the shares of SAS Pommery, as well as the establishment of trust arrangements and pledges over equity interests in companies holding vineyard assets, securing, on the one hand, part of the new financing and, on the other hand, part of the Group’s existing financial indebtedness, for the benefit of the financial partners that participated in the new financing or waived certain of their rights and entitlements under the conciliation agreement;
- The implementation of new financial covenants, including restrictions on payments and dividends made to the Company’s shareholders, which will be capped at an aggregate amount of €10.8 million until the additional financing has been repaid, as well as a minimum consolidated cash covenant of €2 million.
The possibility of extending the Maturity Date until 19 June 2028 is subject to the maturity of the €45 million bond issued on 14 May 2019 (ISIN: BE0002654359 – Common Code: 199972634), currently maturing on 19 June 2027, being extended to the same date, as well as to the absence of any Event of Default and the Pommery Group’s compliance with its financial and operational undertakings.
The agreement also provides for a monitoring framework covering cash flow, inventory levels and the implementation of the business plan presented by Maison Pommery & Associés, together with the continuation of measures already undertaken by the Group to reduce inventory levels, targeting an annual reduction of 2.5 million bottles in 2027 and 2028, control operating expenses, dispose of non-strategic assets and strengthen its equity base.
Exclusive discussions between Maison Pommery & Associés and Henkell International end without an agreement at this stage
On June 2, 2026, Maison Pommery & Associés and Henkell International announced that they had entered into exclusive discussions regarding a proposed strategic partnership, which could have included Henkell International becoming a majority shareholder in Maison Pommery & Associés.
As of July 31, 2026, the date on which the exclusivity period agreed between the parties expired, Maison Pommery & Associés and Henkell International confirm that the exclusive discussions have now come to a preliminary end and have not resulted in an agreement at this stage. Both companies remain open to the possibility of resuming discussions at a later stage.
Effective August 1, 2026, Maison Pommery & Associés is free to pursue or consider potential divestitures of non-strategic assets across its entire portfolio, as well as any other transactions aimed at strengthening its equity.
Deleveraging trajectory
Maison Pommery & Associés confirms that advanced discussions are underway with several parties regarding the disposal of various non-strategic assets in the Camargue region.
Maison Pommery & Associés’ objective remains to dispose of non-strategic assets, particularly in Southern Europe, for an aggregate amount of approximately €100 million (in addition to the proceeds from the disposal of Heidsieck & Co Monopole).
In addition, from 2027 to 2030, the Group has planned to reduce its inventory by approximately €100 million, corresponding to approximately €25 million per year over four years, with the first impact expected as early as December 2026.
These two measures represent a total potential deleveraging of €200 million, to which the strengthening of the Group’s equity through a proposed capital increase would be added.
Financial calendar
Against this now stabilised backdrop, Maison Pommery & Associés announces that it will publish its 2025 Universal Registration Document on 7 September 2026, together with its 2026 half-year financial report, initially scheduled for 10 September 2026, which will now be published on the same date.
The General Meeting of Shareholders will be held on Monday, 19 October 2026 at 3:00 p.m., at the Domaine Pommery in Reims. The terms and conditions for participation, together with the relevant preparatory documents, will be made available in accordance with applicable legal and regulatory requirements.
As part of the deleveraging measures announced, the Company will submit to the General Meeting a proposal for the payment of a dividend, the amount and payment date of which (initially scheduled for 21 September 2026) will be determined by the Board of Directors on 7 September 2026. The dividend amount will be significantly lower than the €0.80 per share announced on 30 March 2026.
Maison Pommery & Associés is a major player in the Champagne sector. The Group controls the entire value chain, from vine cultivation to wine production and marketing. The Group also has a presence in three other wine regions (Provence, Camargue, and Douro). It is strongly committed to promoting terroirs, sustainable viticulture, and environmental preservation. Maison Pommery & Associés is listed on Euronext Paris and Brussels. (Code "POMRY" (Paris & Bruxelles); ISIN code: FR0000062796).
Contacts :
| Maison Pommery & Associés : | Press : | |
| Franck Delval, Directeur Financier +33 3 26 61 62 34 comfi@maisonpommery.fr | Laurent Poinsot +33 1 53 70 74 77 lpoinsot@image7.fr | Caroline Simon +33 1 53 70 74 65 caroline.simon@image7.fr |
_________________________ 1 Vranken-Pommery Production, Grands Domaines du Littoral, Vranken-Pommery Vignobles, BMT Vignobles, René Lallement, Domaine du Montchenois, SAS des Vignobles Vranken, VPHV and SC du Péquigny
2 The conciliation proceedings were opened on 29 July 2026.
3 For the record, the bondholders voted on 9 June 2026 to extend the maturity of the bonds to 19 June 2027.
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