Acquisition of Larsen Cognac between Altia and Rémy Cointreau completed

Press Release   •   Aug 30, 2013 07:06 GMT

Following satisfaction of regulatory closing conditions and in line with the previous press release on 10th June 2013, Altia announces the completion of the acquisition from Remy Cointreau of Larsen “Le Cognac des Vikings” S.A. and the Larsen cognac brand together with substantial aging inventories. Along with the closing 24 employees and production facilities in Cognac have been moved to Altia.

Larsen is one of the major producers of AOC Cognac with a unique range of premium cognacs. Cognac Larsen is known as the ‘Cognac of the Vikings’. Its core range of products includes a VS, VSOP and XO. The company also produces special edition releases, including Drakkar Viking Ship, which is presented in hand-painted porcelain or glass decanters.

This strong, widely recognized cognac brand with heritage reinforces Altia’s position in the Nordic alcoholic beverage business, complements Altia’s brand portfolio and enhances the Group’s offering in the cognac category. Cognac Larsen has a significant market share in cognac category in the Nordic countries and the main destination of exports is Asia.

Altia is the leading wine and spirits company offering quality brands in the Nordic and Baltic countries. Altia produces, markets, sells, imports and exports alcoholic beverages in its market area. Altia serves its consumers, customers and partners close to markets with its wide production, sales and logistic set-up. Annual net sales amounts to approximately 500 million euro and the total number of personnel is approximately 1,100.

Altia’s own brands such as Blossa, Chill Out, Explorer, Grönstedts, Jaloviina, Koskenkorva, O.P. Anderson, Renault, Skåne Akvavit, Xanté and Arsenitch have a strong market position and a long heritage to cherish. Altia’s partner brands represent both local and international brands from all over the world, such as Codorníu, Drosty-Hof, Hardy’s, Jack Daniel’s, Bowmore, Nederburg, Ravenswood and Robert Mondavi.