International Beverage to acquire Larsen Cognac business from Anora

International Beverage has entered into an agreement with Anora Group plc to acquire its Larsen Cognac business.

The proposed acquisition includes Larsen’s production site and eau-de-vie maturation stock in Cognac, France, as well as its cognac brands Larsen, Renault and Monopol, plus brandy brand Ibis.

International Beverage (UK), managing director, Malcolm Leask, said: “Cognac is one of the most dynamic categories in spirits today, and we are proud to have an admired brand and skilled production team joining our business.

"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,” Leask added.

The deal forms part of International Beverage’s strategy to expand its portfolio of premium spirits brands and strengthen its international routes to market to deliver global growth, also marking the company’s first move into the Cognac category.

Anora, which has owned Larsen Cognac since 2013, will continue as the exclusive distributor for the Larsen, Renault, Monopol and Ibis brands in the Nordic and Baltic regions, including travel retail and duty free. 

The agreed enterprise value of €54.1 million is subject to ordinary closing conditions. The closing is expected to take place at the end of this month.

Following completion of the transaction, International Beverage will focus on strengthening Larsen’s position through its network of distribution partners globally with a focus on key export markets in Asia, including China and Hong Kong where International Beverage owns spirits distribution business, AsiaEuro International Beverage (AIB), through its joint venture.