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Acquisition and Distribution Deals Highlight Importance of Chinese/Asian Markets
According to the Bureau National Interprofessionnel du Cognac (BNIC), cognac sales are growing fastest in the Asian region. From December 2016 through November 2017, global sales of cognac grew 11.5% led by 15.1% growth in the far east region.
Recent headlines and the stories behind them indicate a scramble to serve the growing Asian market.
Italy’s Campari adds premium cognac brand Bisquit to its portfolio (Reuters)
Campari the world’s sixth largest spirits conglomerate in the world, announced today that it had purchased Bisquit Cognac for approximately $62 million. Reuters noted that the deal would help Campari grow in the United States and China where cognac sales are growing the fastest.
Campari purchased cognac based liqueur Grand Marnier last year for $760 million.
Altia signs Asia distribution deal for Larsen Cognac (The Spirits Business)
Altia, a Finnish spirits group has joined forces with AsiaEuro to distribute Larsen Cognacs. According to a press release from Altia: “The new long-term partnership includes distribution of the entire Larsen range. In addition, Larsen Cognac House is launching two new cognacs – Larsen VSOP Reserve and Larsen XO Reserve – exclusively for AsiaEuro’s portfolio in Asia.”
Larsen Cognac House is part of Altia Group, and was founded by Norwegian Jens Reidar Larsen in 1926.
The AsiaEuro Group was founded in 1999 is pure wine distribution company located Kuala Lumpur.