CL Financial sells Hine cognac to EDV SAS

20 September, 2013

House of HIne

CL Financial has sold Hine Cognac to French company EDV SAS, according to reports in France and the UK's just-drinks.

French publication Les Echos reports the sale is likely to have been for between €40m-€60m and said the new owners are descendents of the family behind wine merchants Nicolas.

Hine was put on the market by owner CL Financial in April this year and despite much industry talk, a sale has only now materialised.

CL Financial which owns Angostura bitters and rum, was bailed out by the Trinidad & Tobago government in 2009 and has subsequently sold Appleton rum to Gruppo Campari and Burn Stewart Distillers to Distell.

Hine’s stable comprises Hine Rare VSOP, Hine Antique XO, Hine Jarnac-matured Vintage Cognacs and Hine Early-Landed Vintage Cognacs.





Digital Edition

Drinks International digital edition is available ahead of the printed magazine. Don’t miss out, make sure you subscribe today to access the digital edition and all archived editions of Drinks International as part of your subscription.

Comment

Tess Posthumus

Staffing crisis could open opportunities

The pandemic has thrown many challenges at bar owners over the past couple of years and the ones that survived the various lockdowns and restrictions deserve a pat on the back. However, while revenues are returning and bars are beginning to recruit once more, we’ve come up against a whole new set of problems, one of which is a global starring crisis.

Instagram

Facebook