Whisky Focus - International Beverage Set To Acquire Larsen Cognac

International Beverage Set To Acquire Larsen Cognac


7th September 2023
Old Pulteney, Speyburn, Balblair and anCnoc owners, International Beverage, set to acquire Larsen Cognac.

Larsen Cognac

In whisky business news this week, International Beverage, who boasts Scotch blended whisky brand Hankey Bannister and the Scotch single malt whiskies Old Pulteney, Speyburn, Balblair, anCnoc as part of its portfolio has finalised an agreement with Anora Group plc for the acquisition of their Larsen Cognac business.

This comprehensive acquisition encompasses Larsen's production facility and inventory of maturing eau-de-vie in Cognac, France. It also includes ownership of the cognac brands Larsen, Renault, and Monopol, in addition to the brandy label, Ibis.

This strategic move is integral to International Beverage's plan to diversify its portfolio with premium spirits brands and reinforce its global distribution channels to facilitate worldwide growth. Notably, this marks the company's inaugural venture into the Cognac category, a sector projected by the IWSR to witness a continuous increase in global sales, with a Compound Annual Growth Rate (CAGR) of 5% in volume and 7% in value between now and 2026.

Anora, which has held ownership of Larsen Cognac since 2013, will retain its role as the exclusive distributor for the Larsen, Renault, Monopol, and Ibis brands across the Nordic and Baltic regions, encompassing travel retail and duty-free channels.

Founded in 1926 by Norwegian explorer Jens Reidar Larsen after settling in South West France, Larsen Cognac stands as a testament to the enduring success of brandy. It boasts a portfolio of acclaimed expressions and a reserve of aged eau-de-vie accumulated over three generations, ensuring the future production quality.

The agreed-upon enterprise value for this acquisition is EUR 54.1 million and is subject to standard closing conditions. The closing of this transaction is anticipated to occur at the end of September 2023.

Following the completion of this transaction, International Beverage will concentrate on enhancing Larsen's market presence through its global network of distribution partners, with a particular emphasis on key export markets in Asia. This includes China and Hong Kong, where International Beverage already owns a premium spirits distribution business, AsiaEuro International Beverage (AIB), through a joint venture.

International Beverage (UK), Managing Director, Malcolm LeaskInternational Beverage (UK), Managing Director, Malcolm Leask said: "We are delighted to welcome Larsen Cognac and their team to International Beverage, along with the Renault, Monopol and Ibis brands. Cognac is one of the most dynamic categories in spirits today, and we are extremely proud to have such an admired brand and skilled production team joining our business. The Larsen teamís dedication to excellence aligns perfectly with our ethos, and the quality of their portfolio is a perfect complement to our existing whisky, gin, and rum brands. This acquisition also marks the start of a new era for International Beverage, and a strategy that will see us add high quality brands across a range of categories and markets to take our business to the next level."

Being a fully-owned subsidiary of Thai Beverage Public Company Limited, the prominent beverage producer and distributor in Southeast Asia, International Beverage already serves as a distributor for Larsen Cognac in China and Hong Kong through its subsidiary, AsiaEuro International Beverage (AIB). This existing arrangement underscores their comprehensive knowledge and familiarity with the brand.

Will be be seeing some Old Pulteney, Speyburn, Balblair or anCnoc single malt releases in the future which have been matured or finished in ex-Larsen Cognac casks, maybe, Inter Bev have certainly got their choice of casks now.

You will find International Beverages portfolio of Scotch whiskies available f
rom specialist online whisky shops such as The Whisky Exchange and Master of Malt

 

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