Altia Acquires Grönstedts Cognac Trademark
A strong, internationally widely recognized cognac trademark changes ownership. Altia Plc acquires Grönstedts Cognac from Pernod Ricard. The acquisition is to be approved by EU commission.
The acquisition of Grönstedts supports Altia's strategy in the home market. "Grönstedts position in the Swedish market is superior, and it supports our supplier strategy by giving Altia a wide channel towards the HoReCa market, especially in Sweden. The brand has also a great opportunity in other Altia home market countries", says Antti Pankakoski, CEO.
Grönstedts is a market leader in Sweden with sales growth exceeding the market growth in the last years. It holds 57% of the total cognac market in Sweden (cognac market being 420 000 liters). The product has a history of more than 150 years and it has been in Systembolaget since 1917.
In Swedish market, brand will be represented by Philipson Söderberg. "It is a great honour to take responsibility of such a national heritage. Grönstedts is the largest cognac brand in Sweden and it matches our spirit portfolio perfectly. Grönstedts is a strong and well managed brand. We will continue to protect and further develop the brand with the same Swedish pride", says Erik Hultberg, Managing Director of Philipson Söderberg, Altia subsidiary in Sweden. In Finland, Grönstedts will be in Wennerco's portfolio and the German border trade will be managed by Altia Denmark.
Grönstedts was founded by Johan Daniel Grönstedts in 1846. Grönstedts is internationally recognized due to the great work of Folke Andersson, Master Blender of Grönsteds Cognac. A range of six different varieties of Grönstedts Cognac is today available.
For further information please contact:
Antti Pankakoski, CEO, Altia Plc, +358207013001
Sam Stenberg, SVP, Export, Travel Trade and International Brands +358207013006
Erik Hultberg, MD, Philipson Söderberg +468 598 112 01
www.altiacorporation.com
www.philipsonsoderberg.se
Altia Corporation is a wine and spirit service company producing, distributing, marketing and selling own and supplier brands. It represents international quality brands from all over the world. It also distils barley spirit for beverages, and has strong local products and international brands Koskenkorva and Maximus. The annual sales total over EUR 460 million and number of employees in the Nordics and Baltics is over 1 100.
In March, Altia signed an agreement with Codorníu Group. According to the agreement, Altia has exclusive distribution of all company brands in Nordic and Baltic regions, as well as in Travel Trade. Codorníu Group is the leading Spanish producer of premium class wines. The best known brands of the company are Codorníu Cavas and Raimat wines.