French spirit distributor Pernod Ricard just announced the sale of Cognac brand Renault, together with a certain amount of shares. The brand is sold to Scandinavian group Altia, for a purchase price of  €10 million.

The deal between one of the biggest spirit companies of the world and Altia was signed today in Paris, on October 14th, 2010.

Carte Noire Renault

Altia is a production and distribution company that markets spirits and beverages such as Blossa, cognac brand Grönstedts, Koskenkorva, Jaloviina, Maximus, O.P. Anderson, Explorer, Skåne Akvavit and Chill Out. Altia makes a yearly revenue of 500 million €.

And that’s not all: the deal includes a distribution joint-venture between the Pernod Ricard Finland and Altia.

The Swedish and Norwegian administration still needs to authorize the takeover.


Source: Boursier.com

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Pernod Ricard kicks out Cognac brand Renault for 10 million euros

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Max is a spirits expert and speaker, into marketing, technology, startups, and business development. He’s also a farmer. He likes tools and machines, Game of Thrones, and Better Call Saul. Included in his Top 10 Cognacs are the Audry XO and Bache Gabrielsen 1973.Max founded Cognac Expert in 2010 at his family’s estate in Poullignac, in the Cognac region, France. Started as a blog, today Cognac Expert is the world’s largest website about all things Cognac, a blog, and a specialized online shop featuring 800+ different Cognac bottles.

1 Comment

  1. Avatar

    Congratulatin to both buyer and seller.
    For us cocnac-lovers: Happy that it not was sold to China. You never now what mix it could be.

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