Analysis - Hine sale to spark "significant interest"
Hine looks like it is in line for new owners
The sale of Cognac house Hine is likely to generate "significant interest" in the industry, according to an analyst.
A UK spokesperson for Hine confirmed to just-drinks today (19 April) that a buyer is being sought for the company by its owner CL World Brands. "It (Hine) is up sale, but I don't have any more detail beyond that," the spokesperson said.
Off the back of the news, analyst Kepler said in a note today: "We expect the sale of Hine to arouse significant interest in the industry, as Cognac houses are currently looking to increase their inventories of eaux-de-vie to meet future demand."
Hine, which is celebrating its 250th anniversary this year, has around 173 acres of vineyards in Grande Champagne. Its UK sales are "very good", according to the spokesperson, and it is also performing strongly in China and Russia.
Earlier this week, CL World Brands announced it had also offloaded Scotch whisky producer Burn Stewart Distillers to the South African group Distell for ZAR2.2bn (US$244m).
CL World Brands is part of CL Financial, the largest privately-held conglomerate in Trinidad & Tobago. The company was bailed out of a liquidity crisis in 2009 and is currently under the control of Trinidad & Tobago's government. Last year, CL Financial sold its majority stake in Lascelles deMercado to Campari.
Comprising of textual analysis and data tables, this in-depth and exclusive country report from Canadean provides a comprehensive view of the cider industry structure including analysis and profiles o...
This report analyzes the worldwide markets for Cider in US$ Million and Million Liters. The report provides separate comprehensive analytics for the US, Canada, Europe, Asia-Pacific, Latin America, So...
Wine in South Africa industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2008-12, and forecast to 2017). The prof...
Alcoholic Drinks in South Africa industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2007-11, and forecast to 201...
- Analysis - Remy's Cognac "dead-cat bounce"
- Comment - How Hand-Made is Tito's Handmade Vodka?
- Heineken to stay "active player" in beer M&A - CFO
- Diageo's future brighter than present suggests
- Diageo's Q1 Results by Region
- Moët Hennessy unveils first Travel Retail outlet
- United Spirits sees Q1 net loss
- Beam Suntory, Edrington part ways in Travel Retail
- Diageo puts Beckham centre stage in Haig Club ad
- Smirnoff Ice gets India launch