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CL Financial sells Hine cognac to EDV SAS
Published:  20 September, 2013

CL Financial has sold Hine Cognac to French company EDV SAS, according to reports in France and the UK's just-drinks.

French publication Les Echos reports the sale is likely to have been for between €40m-€60m and said the new owners are descendents of the family behind wine merchants Nicolas.

Hine was put on the market by owner CL Financial in April this year and despite much industry talk, a sale has only now materialised.

CL Financial which owns Angostura bitters and rum, was bailed out by the Trinidad & Tobago government in 2009 and has subsequently sold Appleton rum to Gruppo Campari and Burn Stewart Distillers to Distell.

Hine’s stable comprises Hine Rare VSOP, Hine Antique XO, Hine Jarnac-matured Vintage Cognacs and Hine Early-Landed Vintage Cognacs.