The rochelais shipyard, Latitude 46, known for its luxury sailing yachts, and more specifically, the famous Tofinou, had accumulated debts, precipitating the shipyard into legal safeguard proceedings last spring. A buy-out procedure was underway and five buyers had expressed interest. Among them were the Fora Marine (RM Yachts), Dufour Yachts, Black Pepper, the Experton-Revollier group (Wauquiez) and a Swiss investor.
After a verdict rejected by the Commercial Court of La Rochelle, the latter finally decided on Monday 30 March in favour of the Experton-Revollier group. Based in Isère, the group had the most stable financial plan. Present in several sectors (construction, tooling, automotive...), it enters the nautical world in 2011, with the purchase of the Wauquiez sailing boats. This specialist in top-of-the-range sailing yachts therefore adds a string to his bow with the acquisition of the Latitude 46 shipyard, which also specialises in luxury sailing yachts.
Preserved employees
What confirmed the decision of the Commercial Court of La Rochelle was the plan proposed by the industrial group. He plans to keep all the jobs and the current CEO of Latitude 46, Christian Isovici, will continue to manage his company. "Latitude 46 will continue its activity with its current manager, Christian Iscovici, as well as with the entire team at its La Rochelle site" wauquiez explains.
Latitude 46 is located in La Rochelle, on the Atlantic coast, while Wauquiez is located next to Tourcoing, near the English Channel. With this acquisition, Experton-Revollier is therefore establishing itself on two sides of the French coast.
"The entry of the Latitude 46 shipyard into the group alongside Wauquiez offers a complementary range of products in the high-end sailing yacht sector. The two sites will also benefit from industrial and commercial synergies, in particular thanks to the polyester and wood production capacities offered by the Wauquiez site in Neuville en Ferrain and now subcontracted by Latitude 46. The La Rochelle site will be useful in Wauquiez to facilitate its location on the Atlantic coast. Conversely, Latitude 46 will rely on the Wauquiez base in Port Grimaud to strengthen its Mediterranean development" explains the Wauquiez site.
