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Altia pround to acquire “heritage brand” |
Altia Group, a leading wine and spirits player in the Nordic and Baltic countries, has acquired an 88% stake in Jaunalko SIA, one of Latvia’s largest spirits producers.
Jaunalko’s vodka brands, Arsenitch, Kurland and Delo nr 5, will reinforce Altia’s market position in Latvia and strengthen Altia’s white spirits portfolio.
“The acquisition of Jaunalko is a perfect fit with Altia’s strategy which focuses on local, strong brands,” said Altia CEO Antti Pankakoski.
“We believe that there is great potential to develop Jaunalko’s brands, especially Arsenitch vodka. Arsenitch is the only Russian vodka brand in Altia’s own brand portfolio. It has roots in the 1860s and it has won awards in many international vodka competitions for its great quality. We are proud to cherish this heritage brand.”
Following the acquisition, Altia Latvia will become one of the largest liquor companies in the country with a 14% market share. Altia has so far executed its growth strategy by acquiring a range of Swedish and Danish heritage spirits brands as well as Renault Cognac in 2010 and Xanté in 2012.
Altia’s partner brands include both local and international brands, such as Codorníu, Drosty-Hof, Hardy’s, Jack Daniel’s, Bowmore, Nederburg, Ravenswood and Robert Mondavi.
