Cognac: Remy Cointreau sells Larsen to Altia subsidy

Monday June 10 2013 by Vitisphere

In December 2012, the Remy Cointreau Group bought up the Larsen company, "one of the last independent producers of Cognac".Only six months later, the company announces that The Cognac of Vikings has been sold to Finnish company Altia. A leader on the wine and spirits market in Scandinavia (especially Finland and Sweden), Altia is the oldest subsidy of import monopoly Alko and still owned by the Finnish state.

The acquisition agreement concerns the Larsen brand, its assets (industrial and commercial) and stocks, according to Remy Cointreau. “The acquisition of the Larsen brand expands our market presence in the Nordics and Baltics and improves our position in the Nordic Travel Retail and in the international alcoholic beverage business. Along this acquisition Altia will be present in the heart of Cognac with fully integrated cognac operations including own production facilities and additional aging cellars with aged cognacs enabling further growth. Altia aims to grow the volume and value of its cognac business significantly,” says Antti Pankakoski, CEO of Altia.

The sale is expected to be final before the end of the summer. In the past, Altia has bought brands including cognacs Grönstedts and Amundsen in 2009, the Renault Cognac brand in 2010. On 10 June 2013, Altia also announced the purchase of the Danish spirits company Brøndums.

[Photo: Cognac Larsen]

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