French sailing yacht builder Black Pepper Yachts has entered court-supervised restructuring and is seeking a buyer or investor after being placed into receivership by the Nantes Commercial Court on 2 September 2026.
Potential buyers had until 12:00 on 14 September 2026 to submit offers. A court notice listed assets available for acquisition as two catamarans in production, the company’s customer base, operating equipment, moulds, models, plans and ongoing contracts.
Founded in 2007, the Nantes-based yard specialises in carbon composite construction and employs 15 people.
Its turnover for the financial year ending 31 August 2025 was €9.97m, with net profit of €280,990.
The company is especially known for its Code range, bespoke sailing yachts and offshore racing projects, including three IMOCA yachts designed by Sam Manuard. In 2021 it launched the 25.07-metre Code 3 monohull Black Legend 6.
Multihulls
The yard’s recent move into larger multihulls is central to the restructuring.
The Code C.69, designed by François Pérus and Romain Scolari, is a 69ft carbon bluewater cruising catamaran, with a first hull already built. A larger 98ft all-carbon Code C.100 is also part of the planned multihull programme.
According to reporting on the case, cost overruns on two 69ft catamarans contributed to cash-flow pressure after the move into multihulls proved more expensive than anticipated.
Court-supervised restructuring allows activity to continue while a solution is explored, but the short deadline indicates the urgency of the process.
Thomas Brette took over management of Black Pepper in summer 2025, succeeding founder Michel Douville de Franssu.
The business also changed ownership structure in 2025, when French company KERALA became president, replacing Coquelicot Finance, and the registered office moved from Boulogne-Billancourt to Nantes.
The outcome will determine not only the future of Black Pepper Yachts but also whether its carbon multihull programme continues alongside the yard’s established monohull and offshore racing expertise.
