just The Preview - Remy Cointreau Q2 & H1
Remy Cointreau will release its second-quarter and half-year results on Thursday (18 October)
Remy Cointreau will release its second-quarter and half-year results on Thursday (18 October). Here, just-drinks takes a look at the highs and lows for the company in the three months to the end of September.
- July was all about Remy Cointreau's chase of Scotch maker Bruichladdich Distillery Company. On 9 July, the company announced it had entered into "exclusive negotiations" with Bruichladdich, before completing the deal by the end of the month for GBP58m (US$90.3m).
- The acquisition received a lot of attention, not all of it positive. Whisky purists decried Bruichladdich's alleged “sell-out” to a big corporation, however, others argued it made complete financial sense.
- A few days later, Remy Cointreau said Dominique Hériard Dubreuil, its chairwoman since 1998, is to stand down at the end of the year. Dubreuil's brother, François Hériard Dubreuil, will replace her.
- Remy Cointreau's exposure to China's Cognac market may hurt financial results as the country experiences a slowdown, an analyst said in September. Cognac companies are expected to report a "temporary slowdown" in the last two quarters of this calendar year, the analyst said.
Ever since Remy Cointreau put up the best part of US$90m for independent Islay distiller Bruichladdich last year, the Scotch industry has been wondering who's next in line for acquisition....
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