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Altia buys Larsen from Rémy Martin

21 June 2013 One Comment

Larsen Viking ShipRémy Cointreau, which bought six months ago cognacs Larsen, has reached an agreement with the Altia Scandinavian group to use the brand. Altia has a turnover of € 110 million in 2012 with 1,100 employees. It already has the cognac brand Renault purchased from Pernord Ricard in 2010 and Grönstedts.  Altia is the leading Finnish spirits corporation in the Nordic and Baltic countries, where Larsen traditionally positioned itself as a key Cognac brand. According to “Les Echos”, the sale would be € 53 million.

But why did Remy Cointreau bought Larsen and sold it this quickly? 

Well it is quite easily explainable, the recent exploding interest from the Asians in aged spirits resulted in lower stock levels of aged (+10 years old) Cognacs, to meet the future demand Rémy needed to buy stock.  Larsen had sizable stock (some experts are talking about 25.000hl of pure alcohol! Valued at €100.000.0000,-) of eaux-de-vie which Rémy Martin needed. However Rémy was only interested in the Fine Champagne cognacs (Grande and Petite Champagne), the rest (Fins Bois, Borderies, Bons Bois and Bois Ordinaires) did not fit their profile. Therefore they sold this stock in combination with the brand name and brand assets.

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One Comment »

  • Jeanne said:

    Great article!
    Thank you for the news and the insight, I was curious at first of the reasons they were selling so quickly, but it makes so much sense. thx

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