Altia says it has bought Larsen Cognac together with substantial ageing inventories from the Remy Cointreau group.
Finalisation of the transaction is expected by the end of this summer.
The company says it will become the the sixth largest Cognac house in the world with integrated Cognac operations including own production facilities and additional ageing cellars with aged Cognacs enabling further growth.
Cognac Larsen is known as the ‘Cognac of the Vikings’. Its core range of products includes a VS, VSOP and XO. The company also produces special edition releases, including Drakkar Viking Ship, which is packaged in hand-painted porcelain or glass decanters.
Altia Plc has also signed an agreement to buy the aquavit brand Brøndums including all the Brøndums sub-brands from the Norwegian Arcus-Gruppen. The purchase price amounts to approximately €11 million. Altia says the transaction will strengthen its brand portfolio both locally in Denmark and in the Nordic region
The transaction, which has been approved by the Danish competition and consumer authorities, will consolidate Altia’s position as the leading wine and spirits company in the Nordics and Baltics. After the acquisition Altia Denmark will have 23% market share of the total Danish aquavit market (volume) with its Brøndums and OP Anderson aquavits.
Altia says its strategy is based on two cornerstones – building own brands and providing a leading Nordic and Baltic route–to–market service for partners to develop their business. The acquisition of the Larsen brand is a continuation in executing Altia’s growth strategy. Altia acquired Grönstedts and Amundsen Cognac brands in 2009, a portfolio of Swedish and Danish heritage spirits and wine brands as well as the Renault Cognac brand in 2010 and Xanté and Arsenitch brands in 2012.
“Brøndums fits perfectly into our already strong Aquavit portfolio, and will give us further commercial strength as well as create positive synergies in our supply chain operations,” said Altia CEO Antti Pankakoski.