Hine Cognac is for sale
Breaking news, it is just announced that Hine Cognac is put on the market by Hine’s owner, CL World Brands. The managing director Francois Le Grelle of Hine has confirmed to Harpers that the Cognac house is up for sale.
For now the managing director is unable to release any more information, the meetings are yet to be had with potential buyers.
Francois Le Grelle said he was unable to release any more information at this stage and that meetings are yet to be had with any potential buyers.
The news follows the announcement earlier this week that Hine’s owner, CL World Brands, had agreed to sell its Scotch whisky arm, Burn Stewart Distillers to South African drinks giant, Distell, in a deal worth £160 million.
The move followed the sale of a majority stake in Jamaican Appleton rum’s parent company Lascelles DeMercado to Italian drinks company Gruppo Campari in September 2012.
CL World Brands is a subsidiary of the troubled Caribbean company CL Financial, which came under the management of the Trinidad and Tobago government in 2009, following a bail out.
We know Hine best for its vintage approach to Cognac also the house is celebrating 250 years of production this year, hopefully the house can celebrate this event with a great new owner…