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Suntory sells Louis Royer Cognac for €100m
Suntory has sold its Louis Royer Cognac brand to France’s Terroirs Distillers for €100 million (£74m).
Its sale was resulted from a review of its portfolio following the company’s $16 billion purchase of US spirits maker Beam Inc last year.
A statement released today confirming the sale said: “Suntory Holdings Limited today announced it has entered into a definitive agreement to sell Louis Royer S.A.S. to Terroirs Distillers, a privately-held fine spirits company based in France. The transaction includes the Louis Royer Cognac brand, aging inventories, and facilities in France.”
Terroirs Distillers, based in France, produces spirits including Tullibardine Single Malt and Highland Queen Scotch Whisky. Philippine liquor firm Emperador had submitted a bid to buy the company in May, which proved unsuccessful.
The transaction is expected to be completed by the end of August.