FRANCE: La Martiniquaise cleared to buy Quartier Francais Spiritueux
La Martiniquaise must sell off QFS rums
France’s competition authority has approved the takeover of Quartier Français Spiritueux (QFS) by COFEPP-owned French spirits group La Martiniquaise, but laid down certain conditions.
The regulator stipulated that the deal must exclude QFS' rum firms, La Mauny, Trois Rivières and Charrette. Combining these with La Martiniquaise's own portfolio would create "serious competition issues", the watchdog said yesterday (14 December).
If allowed, this would have increased La Martiniquaise's share of rum volumes in the grocery sector from 64% to 95% and also given it control of a large part of rum-producing facilities in French overseas territories.
In February, French co-operative Tereos agreed to sell QFS to La Martiniquaise. On announcing the deal, La Martiniquaise's president and CEO, Jean-Pierre Cayard, told just-drinks that his group expected to relinquish some QFS rum brands to complete the deal.
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