Castel Group: Romy Castel wins in Singapore and takes control of the IBBM holding company

The governance conflict within the Castel beverage group reached a significant milestone on October 2, 2026. According to RFI Économie, the Singapore High Court ruled in favor of Romy Castel, the only daughter of founder Pierre Castel, by confirming the validity of her voting rights within the parent holding company, IBBM. This court decision, which takes immediate effect, allows the heiress to become the majority shareholder in this key structure of the beverage empire.

Through this judgment, Romy Castel is seeking the removal of the group's current leader, Grégory Clerc. Supported by her uncle Alain Castel, she hopes this success will lead to a review of all current management mandates. However, operational control of the agribusiness giant remains complex: Grégory Clerc retains leadership of two other decisive structures, DF Holding and Cassiopée, with the explicit support of their boards of directors.

The future of the company will largely depend on the decisions of the independent directors in charge of the management companies. Furthermore, the family feud extends to other members of the dynasty. Ten of the twelve beneficiaries are challenging Romy Castel's actions in the Singaporean courts and wish to dissolve the IBBM holding company in favor of a new organization. These internal tensions arise as the group faces an investigation by the National Financial Prosecutor's Office in France, where a potential tax adjustment of one billion euros has been mentioned.

Our perspective

The upheavals at the top of a distribution giant in Africa highlight the strategic importance of the continent's economic sovereignty. When decisions crucial to the African market are played out in foreign jurisdictions, it underscores the need for our nations to build local industrial champions that are masters of their own governance and fully committed to regional economic development.