Rémy Cointreau Sells Larsen To Altia, Just Months After Acquisition

Rémy Cointreau has agreed to sell Larsen Cognac to Finland’s Altia, just months after acquiring the Cognac house. Financial terms weren’t disclosed. Altia, one of the leading drinks marketers in the Nordic and Baltic regions, said the deal will make it the sixth-largest Cognac producer and follows the acquisition of the Gronstedts and Admundsen Cognac brands in 2010 and Renault Cognac last year.

Founded in 1926, Cognac Larsen was one of the last independent producers of AOC Cognac when Rémy purchased it for an undisclosed sum in December 2012. While Rémy is parting with Larsen, the company does aim to expand its via acquisitions over the next few years. “Our existing portfolio is well-positioned for growth, but I’ve also got to plan for the future as we aim to meet our goal of doubling profits within the next five years,” Rémy CEO Jean-Marie Laborde recently told Shanken News Daily. “So we’re definitely considering acquisitions. But we’ll only look to make moves that fit in with our strategy and our portfolio.”

Tagged : Cognac, Remy Cointreau, spirits

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