FINLAND: Altia acquires Danish drinks business

Finland's Altia Corporation has acquired the Danish drinks distributor Vintappergaarden A/S. Althought the purchase price was not disclosed, Altia said the turnover of the Danish company in 2006 was 38 million DKK (excluding excise tax) and it has nine employees.

"The vision of Altia Corporation is to become the leading alcoholic beverage company in the Nordic and Baltic countries by 2009 and the leading alcoholic beverage company in Northern Europe by 2011. This acquisition is a clear step towards that vision," said Tuomas Itkonen, acting managing director and CFO of Altia Corporation.

"The acquisition of Vintappergaarden A/S will strengthen our position in Denmark. Altia is currently operating in all the Nordic countries, Estonia and Latvia. We already have a minor subsidiary, Bibendum, in Denmark. The alcoholic beverage market in Denmark is challenging - it is a free market compared to the Nordic monopoly markets in Finland, Sweden and Norway."

Vintappergaarden is present in most Danish retail chains. The company's portfolio includes a broad selection of international brands.

"I am convinced that all clients will get even better service as a consequence of this transaction. I also believe that our employees will have better opportunities to develop within an international corporation," said Jens Helmbaek, the former owner of Vintappergaarden. "Vintappergaarden's vision as a part of Altia Corporation is to become one of the leading alcoholic beverage companies in Denmark."

Helmbaek will continue as managing director of Vintappergaarden.