Cognac Renault acquired by Altia from Pernod Ricard for € 10 M
>> Friday, November 05, 2010
Cognac Renault is a brand that is mainly known on the Scandinavian market. Best known is the premium brand Renault Carte Noire, popularly called Black Renault. Altia Corporation, controlled by the Finnish state, has acquired the brand and some stock from Pernod Ricard for 10 million euro. (The acquisition is pending approval from authorities.) We are guessing that it is one of the brands that landed in the Pernod Ricard portfolio when they bought V&S Vin & Sprit from the Swedish government some years back. The main purpose of that acquisition was to get the control of Absolut Vodka. And that this sale is another step in cleaning up the portfolio from various brands and products that came with the acquisition. Altia has already previously taken of some such brands from Pernod Ricard. Read more www.decanter.com
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