Rémy Cointreau offloads Izarra herbal liqueur

French drinks group Rémy Cointreau has sold its non-priority Izarra herbal liqueur to Spirited Brands, which intends to bring the brand “back into fashion”.

Rémy Cointreau’s sale of Izarra liqueur to Spirited Brands has now been completed

The deal, of which the terms have not been disclosed, also includes the sale of Distillerie de la Côte Basque – where French liqueur Izarra is created in Basque Country.

However, Rémy Cointreau has agreed to continue to manufacture and bottle the brand, which first launched in 1906 and recorded sales of €4 million in 2014/15.

“By expanding with Izarra 54 – voted the best new French spirit in 2013 – the product range of this liquor which conquered the world last century, Rémy Cointreau has demonstrated to us the path to revival,” said Roland Giscard d’Estaing, Izarra’s new executive director.

“We intend to build upon these solid foundations and continue the work to re-establish this brand in the Basque Country, bring it back into fashion and thus enable this Basque star to be reborn. Such is the level of our commitment.”

Spirited Brands describes the acquisition of Izarra as the “first step” in its 15-year plan to “breathe new life” into brands which has global sales in excess of a million bottles.

Earlier this month, Rémy Cointreau reported a decline in its H1 sales results due to a number of “technical factors”, including the “adaptation” of its distribution channels in China.