International Beverage has reached an agreement with Nordic drinks business Anora Group plc to acquire its Larsen Cognac business.
The agreed enterprise value is €54.1 million (US$58 million) and is subject to ordinary closing conditions.
The proposed acquisition – which is expected to be finalised at the end of this month – includes Larsen’s production site and eau-de-vie maturation stock in Cognac, France. Also in the package are its cognac brands Larsen, Renault and Monopol, plus brandy brand Ibis.
International Beverage – owner of brands including Old Pulteney single malt Scotch whisky and Caorunn Gin – said the deal forms part of its strategy to expand its portfolio of premium spirits brands and strengthen its international routes to market to deliver global growth.
Anora has owned Larsen Cognac since 2013. It will continue as the exclusive distributor for the Larsen, Renault, Monopol and Ibis brands in the Nordic and Baltic regions, including in travel retail and duty free.
Founded in 1926 by Norwegian adventurer Jens Reidar Larsen after he settled in southwest France, Larsen Cognac has a portfolio of valuable expressions and aged eau-de-vie stock built up over three generations.
Upon completion of the transaction, International Beverage said it will focus on strengthening Larsen’s position through its network of distribution partners globally with specific focus on key export markets in Asia. In this region, International Beverage owns a premium spirits distribution business, AsiaEuro International Beverage (AIB), through a joint venture.
As a wholly owned subsidiary of Thai Beverage Public Company Limited, Southeast Asia’s leading beverage producer and distributor, International Beverage is already a distributor of Larsen Cognac in China and Hong Kong through AIB.
International Beverage (UK) Managing Director Malcolm Leask said: ‘We are delighted to welcome Larsen Cognac and the 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 team’s 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.” 
