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Rémy and Lucas Bols plan Passoã joint venture
French drinks group Rémy Cointreau is planning to form a new joint venture that would see Netherlands-based Lucas Bols assume operational and financial control of its Passoã brand.
Passoã may soon by under the operational control of Lucas Bols
The two groups have now entered into exclusive negotiations to form the JV, which will be based in France, to further develop global activities for passion fruit liqueur Passoã.
Under the proposed alliance, Rémy Cointreau would contribute all Passoã operations, including trademark and inventory, while Lucas Bols would contribute working capital as well as its “expertise in the liqueur and cocktail business”, assuming majority control of the JV.
Rémy Cointreau anticipates that the agreement will be concluded before the end of 2016 following consultation with its relevant employee representative bodies.
The group said the project forms part of its strategy to “accelerate the move upmarket of its brand portfolio”, while for liqueurs and spirits producer Lucas Bols, it allows the firm to “expand its global brands segment”.
In its latest first quarter financial results, Rémy Cointreau said demand for Passoã returned to “healthy growth” in France and the UK.