PARIS--(BUSINESS WIRE)--Regulatory News :
Rémy Cointreau (Paris:RCO) announces that an agreement has been signed with the Nordic group Altia in respect of the transfer of Larsen Cognac, including the brand, industrial and commercial assets and inventories necessary for the entity to operate as a going concern.
Founded in 1926 by Jean Larsen, Larsen is one of the major producers of AOC Cognac with a unique range of premium products.
This acquisition will enable Larsen to benefit from Altia’s expertise as the leading Finnish wine and spirits company in the Nordic and Baltic countries, where Larsen has historically positioned itself as a key Cognac brand.
Completion of the transaction remains subject to authorisation and disclosure procedures in accordance with current regulations. Finalisation of the transaction is expected to occur within three months.
Altia is the leading wine and spirits company offering quality brands in the Nordic and Baltic countries. Altia produces, markets, sells, imports and exports alcoholic beverages in its trading area.
Altia’s own brands such as Renault, 1-Enkelt, Blossa, Chill Out, Grönstedts, Koskenkorva, OP Anderson and Xanté have a strong market position and a longstanding heritage.
Altia’s partner brands represent both local and international brands from all over the world, including Codorníu, Drostdy-Hof, Hardy’s, Jack Daniel’s, Bowmore, Nederburg, Ravenswood and Robert Mondavi. Altia serves its consumers, customers and partners with its strong production, sales and logistic capacity. Annual net sales amount to approximately €500 million and the total workforce is approximately 1,100.