I know we’re running a bit late with that story. But we still had to publish this one so here it is:
Suntory, the Japanese drinks giant, has confirmed that it has brokered a deal to sell Louis Royer SAS Cognac to Terroirs Distillers. The French spirits company is paying a cool 13 billion yen for the company, which equates to approximately $105 million US dollars.
Terroirs Distillers is a privately owned company who beat Philippine liquor firm, Emparador Inc. to the winning post to become the new owners of Louis Royer. Emparador Inc. placed a bid for the cognac company in May.
Suntory say that the sale was due to a portfolio review, following their purchase of US spirit maker, Beam Inc. which has seen them acquiring Courvoisier Cognac into their group. The deal is expected to be completed by the end of August.
Discover more about Louis Royer Cognac.
Sources: harpers.co.uk, economictimes.indiatimes.com