FRANCE: Rémy Cointreau finalises Larsen Cognac sale

By | 2 September 2013

Rémys Cognac sales have slowed down in China

Rémy's Cognac sales have slowed down in China

Rémy Cointreau has completed the sale of Larsen Cognac to Finland's Altia Corporation, eight months after it acquired the brand. 

The deal, for an undisclosed sum, was finalised on Friday (30 August), Rémy said. The French group bought the family-owned Cognac house and its brand in December.

However, in June, Rémy announced it had agreed a sale to Altia that included the Larson brand and industrial and commercial assets. Rémy also said it was selling “inventories necessary for the entity to operate as a going concern”. It is not clear how much inventory Rémy will retain.

Rémy's Cognac sales suffered in its first quarter from a slowdown in China. However the company has targeted next year for a full turnaround.

Expert analysis

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Sectors: Mergers & acquisitions, Spirits

Companies: Cointreau

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