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Altia ups glögg mulled wine presence with Von Elk Co deal

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Altia has acquired a stake in Finnish glögg producer Von Elk Co.

Altia has bought into glögg mulled wine producer Von Elk Co, owner of the Glöet brand

Altia has bought into glögg mulled wine producer Von Elk Co, owner of the Glöet brand

The Helsinki-headquartered group, which already owns the Blossa glögg brand, confirmed the purchase of an unspecified minority holding in Von Elk earlier this week. Privately-held Von Elk, founded six years ago, produces a sparkling variant of glögg, which is a mulled wine traditionally consumed in Scandinavia.

Financial details were not disclosed.

Von Elk's portfolio includes the Glöet sparkling glögg as well as Gozy, a two-strong range of canned sparkling sangrias. Altia will assume responsibility for Von Elk's sales, marketing and distribution across the Nordic and Baltic markets and will head up NPD.

"We want to work with innovative growth companies, and Von Elk is an excellent example of just such a company," said Altia's senior VP for Scandinavia, Janne Halttunen,. "Glöet and Gozy are fine additions to Altia's product portfolio, and we're excited to get the chance to build and develop these brands with Von Elk."

Von Elk co-founder & CEO Anette Raunio added: "We've created an entirely new drink category and a new way of celebrating Christmas in the Nordics. According to our forecast, up to 80% of this year's sales will come from outside Finland."

Earlier this year, Altia unveiled a packaging refresh across its entire Larsen Cognac range. The company acquired Larsen from Remy Cointreau in 2013.

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