La Martiniquaise has completed the divestment of its controlling stakes in the Trois Rivières, La Mauny and Duquesne rum brands ahead of its proposed purchase of Quartier Français Spiritueux (QFS).

The French company, which is owned by Compagnie Financiere Europeenne de Prises de Participation, said earlier today (16 October) that it has sold its 61% holding in the brands to industrial investment group Chevrillon. The sale of Trois Rivières and La Mauny was made a condition of La Martiniquaise's purchase of QFS by France’s competition authority late last year.

The remaining 39% stake in the three rums will stay with the founders of the brands.

The Charrette rum brand, which also must be sold before La Martiniquaise buys QFS, remains for sale. Chevrillon has said it is not interested in it, however, as it is not an AOC rum unlike the three brands it has purchased.

The rums, which are produced on the French island of Martinique, have been acquired for an enterprise value of EUR20m (US$26.1m), Chevrillon's president & CEO, Cyrille Hevrillon, told just-drinks today. He said his group is hoping to increase export sales of Trois Rivières, La Mauny and Dusquesne by 50% over the next five years.

Distribution of the brands has been entrusted to Lixir, a joint-venture between William Grant & Sons and Rémy Cointreau.