FRANCE: Rémy Cointreau puts Bols on the block
French drinks giant Rémy Cointreau has put its Bols business up for sale.
Rémy, which in June sold the rights to produce and distribute Bols vodka in Poland and Russia, has decided to sell its entire Bols stable, which also includes a gin and a range of liqueurs.
Hidde van der Pol, international brand director for Bols, told just-drinks today (9 December) that talks were underway to sell the business.
"Rémy Cointreau has stated that its main strategy is to focus on its very premium brands and that's where they're focusing right now," he said.
Van der Pol refused to name the potential suitors for the business and declined to comment on how long the negotiations could take.
Rémy also plans to sell its secondary Champagne brands as part of its plans to concentrate on a smaller stable of premium brands, including Piper Heidsieck Champagne and Rémy Martin Cognac.
Rémy officials were unavailable for comment as just-drinks went to press.
As Pernod Ricard, Allied Domecq and Fortune Brands close in on the biggest drinks industry deal since the sale of Seagram, opinion about how the deal will be structured and who stands to win and lose ...
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Remy Cointreau has signed a five-year credit facility for around €500m....
Remy Cointreau has gone to holders of one of its bonds to gain permission to complete the sale of its stake in Bols....
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