Altia and Arcus divest aquavit brandsBy Nicola Carruthers
Nordic drinks groups Altia and Arcus have agreed to sell seven spirits brands to Galatea to complete their merger.
In September last year, Altia and Arcus decided to merge into a new wine and spirits company, called Anora Group.
The merger was approved by competition bodies in Finland, Sweden and Norway earlier this year on the condition that certain brands were divested before the deal was completed.
Scandinavian beverage supplier Galatea has agreed to buy Altia’s aquavit brands Skåne, Hallands Fläder and Brøndum, and Cognac brand Grönstedts. Galatea will also purchase Arcus’ aquavit Akevitt Spesial and spirits brands SPRT and Dworek.
Altia and Arcus will provide transitional support to Galatea for up to three years. Terms of the deal have not been disclosed, but it excludes production equipment, facilities and employees.
The merger between Altia and Arcus is expected to be completed in the third quarter of this year. The divestments will not affect the companies’ joint net potential of €8 million-€10m (US$9.4m-US$11.8m).
Finland-based Altia’s flagship brands are Koskenkorva vodka, OP Anderson aquavit and Larsen Cognac. Norwegian group Arcus is the world’s largest producer of aquavit.