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2014 Registration Document 2

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2014 Registration Document 2 REGISTRATION DOCUMENT PART 1. PRESENTATION OF THE GROUP 1 MARIE BRIZARD WINE & SPIRITS REGISTRATION DOCUMENT 2014 REGISTRATION DOCUMENT 2 MARIE BRIZARD WINE & SPIRITS 19, BOULEVARD PAUL VAILLANT COUTURIER 40, QUAI JEAN COMPAGNON 94200 IVRY-SUR-SEINE CRÉTEIL TRADE & COMPANIES REGISTER UNDER NUmbER 380 695 213 Shae Capital of € 52,973,242 REGISTRATION DOCUMENT 2014 Pursuant to its general regulations, and specifically to Article 212-13, the French Financial Markets Authority (the “AMF”) registered this Registration Document on 14 october 2015 under number R.15-074 (the “Registration Docu- ment”). This document may only be used in support of a financial transaction if supplemented by a transaction notice certified by the AMF. It has been prepared by the Company and engages the liability of its signatories. In accordance with the provisions of Article L. 621-8-1-I of the French Monetary and Financial Code, this document was registered once the AMF had ascertained that it was complete and understandable, and that the information that it contains was consistent. It does not imply ratification by the AMF of the financial and accounting items included herein. Copies of the Registration Document are available free of charge from Marie Brizard Wine & Spirits, 19, boulevard Paul Vaillant Couturier – 40, quai Jean Compagnon – 94200 Ivry-sur-Seine, on the AMF website (http://amf-france. org), and on the Company’s website (http://www.belvedere.fr). It is reminded last Shareholders General Meeting on 30th June 2015 decided to change the name of the Company, which is now “ Marie Brizard Wine & Spirits ”, instead of “ Belvédère ”. Thus, within the present Registration Docu- ment, the reader would find both Company’s names, some legal and/or financial information was established before this legal Company’s name change. REGISTRATION DOCUMENT 3 TABLE OF CONTENTS PART 1 PART 2 Presentation of the Group Legal and financial informa- tion page 7 CHAPTER 1: MARIE BRIZARD WINE & SPIRITS GROUP page 16 CHAPTER 2: MANAGEMENT PRESENTATION REPORT FOR 2014 page 7 1.1 Key events in Marie Brizard Wine page 16 2.1 Activities and events of 2014 & Spirits Group history page 20 2.2 Analysis of results and of financial page 8 1.2 Simplified flow chart structure at year ended 31 december 2014 page 8 1.3 Role of the different legal struc- tures page 27 2.3 Latest events and outlooks page 9 1.4 Activities of Marie Brizard Wine page 29 2.4 Risk factors & Spirits page 36 2.5 Description of the group page 9 1.5 Main markets and activities page 37 2.6 Investment policy page 10 1.6 Selected financial information page 38 2.7 Governance and remuneration page 12 1.7 Properties, plants and equipments page 45 2.8 Workforce page 13 1.8 Important contracts page 47 2.9 Share capital and shareholding structure page 54 2.10 Other information page 58 CHAPTER 2 BIS: ADDITIONAL INFORMATION TO 2014 MANAGEMENT REPORT page 58 2.2 bis Analysis of results and of financial structure at the end of H1 2015 REGISTRATION DOCUMENT 4 page 64 2.4 bis Risk factors PART 3 page 65 2.7 bis Governance and remuneration Additional information page 68 2.8 bis Workforce page 178 CHAPTER 6: GENERAL page 69 CHAPTER 3: SOCIAL INFORMATION ABOUT THE AND ENVIRONMENTAL COMPANY AND ITS SHARE CAPITAL RESPONSIBILITY REPORT page 178 6.1 General information about Marie page 69 3.1 Information regarding staff and Brizard Wine & Spirits SA environmental information and social commitments to sustainable develop- page 179 6.2 Memorandum and Articles of Association ment page 189 6.3 Shareholders and Voting rights page 81 3.2 Independent third party’s report on the consolidated social and envi- page 191 6.4 Dividend distribution ronmental information provided in this Management Report page 192 6.5 Depositary page 83 CHAPTER 4: CONSOLIDATED page 193 CHAPTER 7: COMBINED GENERAL STATEMENT MEETING 30 JUNE 2015 page 83 4.1 2014 consolidated income state- page 193 7.1 Board of Directors’reports to the ment Combined General Meeting - 30 June 2015 page 127 4.2 Statutory Auditors’ report on the 2014 financial statements page 205 7.2 Share buy-back program page 129 4.3 H1 2015 consolidated income page 206 7.3 Specific reports of the auditors on statement certain resolutions on the agenda of the General Meeting 30 June 2015 page 158 4.4 Statutory Auditors’ report on the H1 2015 financial statements page 207 7.4 Draft resolutions submitted to the General Meeting - 30 June 2015 page 159 CHAPTER 5: GOVERNANCE AND INTERNAL CONTROL page 215 7.5 Resolution voting results for the Combined General Meeting held on page 159 5.1 Chairman’s report on corporate 30 June 2015 governance and internal control page 217 CHAPTER 8: PERSONS page 170 5.2 Statutory Auditors’ Report on RESPONSIBLE FOR THE the Chairman’s report on Corporate REGISTRATION DOCUMENT Governance and Internal Control page 217 8.1 Person responsible for the Registra- page 171 5.3 Description of the regulated tion Document agreements page 217 8.2 Declaration by the person responsible page 172 5.4 Statutory Auditors’ special report for the Registration Document on regulated agreements page 218 8.3 Documents incorporated by reference page 218 8.4 Documents available to the public APPENDIX Registration Document cross reference table regarding appendix I of Commission Regula- tion (« Directive Prospectus ») REGISTRATION DOCUMENT PART 1. PRESENTATION OF THE GROUP 5 PREMIÈREPART 1 PARTIE PrésentationPresentation duof the Groupe Group WILLIAM PEEL LaThe marque Brand LeThe whisky grain whiskyde grain comes provient, from lui, the des William Peel estis a unscotch scotch whisky whisky Lowlands, lethe berceau cradle of du whisky. whisky. vieilliaged inen oak fût decasks chêne in the dans best la Scotchplus Le secret de William Peel repose puretradition. tradition With écossaise.more than Avec 3 million près de surWilliam cette sélection Peel’s secret rigoureuse comes des from cé - 3cases millions sold dein 2014,caisses William vendues Peel en is 2014, the réalesthis careful et sur selection son assemblage of grains méticu and - William8th leading Peel brand est la 8èmeof Scotch marque whisky leuxtheir pourmeticulous un Blended blending Scotch for whisky,a per- mondialworldwide, de withscotch the whisky, 2nd highest la 2ème parfaitementfectly balanced équilibré and round et rond, Blended qui plusgrowth forte in croissance2014 according 2014 toselon Impact Im- révèleScotch la whisky générosité which des reveals notes the maltées pactand the et leader leader en in France, 1erno. 1marché Scotch etgenerosity fruitées. of the malted and fruity auwhisky monde market de scotch worldwide. whisky. notes. La gamme LeThe savoir-faire Expertise WilliamThe Product Peel joueLine pleinement RefletDistilled d’une in Scotland tradition and millénaire reflec- sonWilliam rôle de Peel leader plays et porteits leadership la caté- etting distillé a tradition en Ecosse, a thousand William years Peel old, gorierole and vers carries de nouvelles the category saveurs to etnew de associeWilliam lesPeel meilleurs blends the whiskies best malt de malt and nouveauxflavors and usages. new uses. Ainsi, Thus, récemment, recently, etgrain de grains.whiskies. Le MaltWhisky whisky de malt comes pro - William Peel aintroduced lancé des déclinaisonsnew flavored vientfrom thedu trianglegolden triangled’or du whisky, of whisky, du aromatisées,versions, William William Peel Peel Honey Honey and et Speysidefrom the Speysideet des Highlands, and Highlands, régions William Peel Delicious Coffee thatqui se parcouruesregions crossed par des by streams cours d’eau of extre d’une- dégustenttasted pure pures and fresh, et bien as fraiches,well as elon mais- extrêmemely pure pureté water qui which donnent gives authe malt malt aussigated allongées long drink en and long cocktails. drink et en sonits particular goût si particulier and incomparable et inimitable. taste. cocktails. REGISTRATION DOCUMENT PART 1. PRESENTATION OF THE GROUP 6 CHAPTER 1 MARIE BRIZARD WINE & SPIRITS GROUP PRESENTATION 1.1 Key events in Marie Brizard Wine & Spirits Group history 1.2 Simplified flow chart 1.3 Role of the different legal structures 1.4 Activities of Marie Brizard Wine & Spirits 1.5 Main markets and activities 1.6 Selected financial information 1.7 Properties, plants and equipments 1.8 Important contracts REGISTRATION DOCUMENT PART 1. PRESENTATION OF THE GROUP 7 1 MARIE BRIZARD WINE & SPIRITS GROUP PRESENTATION was engaged. In 2013, the General Meeting of the Company’s Shareholders approved the rehabilitation plan, which includes 1.1 Key events in Marie Bri- debt repayment schemes and clearance of some liabilities. zard Wine & Spirits Group During 2010 and 2011, the company continued to launch new products such as vodka Krupnik in Poland and the flavored wines history “Fruits and Wines”. The company was funded on 10 January 1991 at Beaune. In Years 2014 and 2015 stand for a normalization period for the the 90’s, it emerged as the first company to market upscale vo- Group, with the set-up of new governance and the dissociation dkas while developing a large distribution network especially in of the functions of Chairman of the Board of Directors from those Poland. of Chief Executive Officer, as well as the creation of an Executive Committee. On 21 January 1997, the company was introduced on the Paris stock exchange. On December 2014, after important strategic review of the working group led by the new Chief Executive Officer, the BiG In 1998, the company created the vodka brand “Sobieski” 2018 plan («Back in the Game 2018») was announced to em- ployees, partners, shareholders and the market. It states objec- In the 2000’s, the company launched the commercialization tives for the next 3 years. of a lot of new products and gained production means in order to integrate the whole value chain.
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