Finland/France: Altia has acquired Grönstedts cognac from Pernod Ricard. The acquisition is to be approved by EU commission.
After Pernod’s acquisition of V&S in July 2008, the company had an agreement with Norwegian group Arcus Gruppen AS regarding the disposal of Grönstedts Cognac, Star Gin, Red Port and Dry Anis.
The transaction was subject to approval by the European Commission.
Approval was granted for the disposal of Star Gin, Red Port and Dry Anis, and the transaction relating to these three brands was completed yesterday.
But the EC expressed concerns about Grönstedts being acquired by Arcus Gruppen AS, due to the combined market share in Sweden of Grönstedts and Arcus’ cognac brand Braastad. Consequently, the acquisition arrangements of Grönstedts by Arcus Gruppen AS were terminated, and Pernod Ricard signed an agreement with the Finnish group Altia for the acquisition of this brand.
Altia CEO Antti Pankakoski said: “Grönstedts position in the Swedish market is superior, and it supports our supplier strategy by giving Altia a wide channel towards the HoReCa market, especially in Sweden. The brand has also a great opportunity in other Altia home market countries.”
Grönstedts holds 57% of the total cognac market in Sweden and the brand will be represented by Philipson Söderberg.
In Finland, Grönstedts will be in Wennerco’s portfolio and the German border trade will be managed by Altia Denmark.