The family-owned wine producer will invest €10m to revive the debt-laden GICB, securing 60% of local appellation output.
French wine producer Domaine Lafage has acquired the insolvent Groupement Interproducteurs du Collioure Banyuls (GICB) for €1.5m. The deal, confirmed by a court ruling in Perpignan, follows GICB’s court-ordered administration amid nearly €20m in debt.
GICB, founded in 1863, employs 199 workers and specializes in still wines from the Côte Vermeille region. Domaine Lafage plans to invest €10m in the renamed Terrasses Vermeilles, which will unite 500 producers and 500 hectares of vineyards.
The acquisition consolidates Domaine Lafage’s control over 60% of production in the Banyuls and Collioure appellations, per local reports.