Well, this certainly is interesting, as we’ve just heard that the house of Hine Cognac has been put on the market.
Earlier this week, the current owner of Hine, CL World Brands, has arranged the sale of Burn Stewart Distillers (Scotch Whisky) to Distell, the South African drinks giant. This deal is said to be worth £160 million.
And this came on the back of the company selling a majority stake in the parent company of Jamaican Appleton Rum, Lascelles DeMercardo, which was sold to Gruppol Campari, the Italian drinks company, in 2012.
Hine, one of the bigger players in the Cognac market, is celebrating its 250th anniversary this year, and we’re sure there’s bound to be some very interested potential customers. After all, sales of Cognac continue to rise, and every Cognac house is looking to increase its stocks of eaux-de-vie, especially the older ones. And Hine is well known for its vintage products. As we reported only recently, the house of Frapin has just acquired more vineyards for this very reason.
As of this moment, no more information is available about why, where or to whom Hine might be sold, as the MD of Hine, Francois Le Grelle, says any meetings with potential buyers are yet to be had.
CL World Brands is part of CL Financial, who are in financial turmoil right now. The Caribbean company was bailed out in 2009 and then became under the management of the Trinidad and Tobago government.
Read more about the house of HINE Cognac