FINLAND: Finlandia producer remains in state hands
Altia, the Finnish producer of Finlandia Vodka is to remain a state-owned operation following the failure by its government to sell a minority stake.
The Finnish government hit a stumbling block over the sale when parliament blocked a majority sale last year, after pressure groups' opposed the sale of state assets abroad.
The government said efforts to sell up to 49.9% percent of Altia failed because suitable beverage companies were unwilling to take a minority stake. A spokesman added that other potential bidders, including venture capitalists, had proved unsuitable.
"To a large extent, the important point is that we had so little to sell," said the Trade and Industry Ministry's industrial counsellor, Arto Honkaniemi. "Venture capital companies would not bring the know-how we were looking for."
Altia had hoped that the sale of part of its stock would allow it more flexibility and the investment by an international player would have been welcomed in the absence of major investments by the state.
Altia's sales rose 7.2% to €226m (US$195m) last year, with the operating result more than doubling to €27.5m.
Finland has a state monopoly on the sale of beverages with more than around 4.5% alcohol content. It also controls much of the country's alcohol production, including Finlandia Vodka.
Altia owns 55% of Finlandia Vodka. The rest is owned by the US group Brown-Forman.
The global roll-out of InBev's Brazilian beer, Brahma, adds a third premium brand to the global brewer's international portfolio but some observers have suggested it's an unnecessary step which threat...
Post-menopausal women who consume even moderate amounts of alcohol may face an increased risk of breast cancer, according to a comprehensive US study....
The US wines and spirits company, Brown-Forman, has launched its vodka brand, Finlandia, in India. Along with the core brand, three flavoured versions of Finlandia are also to be made available on the...
Alcohol intake amongst young female adults in the UK continues to rise and shows no signs of abating, according to a recent report....
Cobra Beer has launched an alcohol-free beer in South Africa, the UK and in its European and Asian export markets....
Brown-Forman Beverages has replaced Bacardi as its spirits distributor in Canada....
Samuel Adams Brewery has secured a production deal with Brown-Forman....
A director of Brown-Forman Corp. has sold part of his holding in the company....
- Whatever happened to binge Britain? - comment
- The dangers of squaring up to your competitor
- How to turn a domestic spirit into a global brand
- The US beer market - A level playing field for all
- Remy Cointreau's Q2 and H1 - preview
- Sidney Frank CEO to head Clooney's import co
- Diageo sells off United Spirits' Bouvet Ladubay
- Captain Morgan distillation trial queried by USVI
- Irish whiskey brands could fail without bulk
- Sazerac sues Brown-Forman over Tennessee Fire
- Global Beer Trends 2015 : Global Beer Trends and Long-term Forecasts
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research
- Future growth opportunities for global spirits
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global Wine Market to 2019 - Market Size, Development, and Forecasts