CL Financial Sells Hine CognacSeptember 20, 2013
CL Financial has sold its Hine Cognac house to France’s EDV SAS. The price was undisclosed, but France’s Les Echos newspaper quoted it at between €40 million and €60 million ($54m-$81m).
The sale of Hine, which reported turnover of €14 million ($19m) last year, marks one of several recent divestments for CL, which unloaded a majority stake in Jamaica’s Lascelles deMercado & Co. to Gruppo Campari in 2012 and sold Scotch whisky distiller Burn Stewart to Distell in April.
Best known for its collection of vintage Grande Champagne Cognacs, Hine Cognac’s portfolio includes its H By Hine, Rare VSOP, Homage, Triomphe and Antique XO 1er Cru Cognac labels, among others. In the U.S., the brand is handled by San Francisco’s Anchor Distilling.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.