Martell bolsters Cognac holdings12th February, 2013 by Gabriel Stone
Pernod Ricard has confirmed a deal by its subsidiary Martell & Co to purchase Cognac producer and wholesaler Le Maine au Bois.
The acquisition, which is expected to conclude by the end of June this year, comes after the drinks group revealed a week ago that it had entered into exclusive negotiations with the firm, which is located in the Petite Champagne area of the AOC Cognac region.
According to Pernod, Le Maine au Bois holds stocks of “high quality eaux-de-vie of all ages”, as well as “state-of-the-art industrial facilities”.
In a statement announcing the agreement, the company explained: “This acquisition reflects Pernod Ricard’s ambitions regarding long term development of its Martell range, world leader of the XO Cognac category.”
In its 2011/2012 Annual Report, Pernod reported 25% value growth for Martell, with 1.9m nine-litre case sales. As part of this growth, the Cognac became the first imported spirits brand to achieve annual case sales of more than 1m in the Chinese market, where it enjoyed a 29% value increase.