Rémy Cointreau in Negotiations to Form Joint Venture With Lucas Bols
Rémy Cointreau and Lucas Bols have entered into exclusive negotiations with a view to forming a joint venture, based in France, to operate and further develop the global activities of the Passoã brand, the passion fruit liqueur. Under the proposed joint venture, Rémy Cointreau would contribute all Passoã operations, including trademarks and inventory, while Lucas Bols would contribute both its know-how and expertise in the liqueur and cocktail business, as well as working capital. Lucas Bols would assume operational and financial control of the joint venture.
The project forms part of Rémy Cointreau’s strategy to accelerate the move upmarket of its brand portfolio, whereas for Lucas Bols, Passoã would expand its global brands segment, adding a complementary, world famous name.
In the event of a favourable outcome to the negotiations, the joint venture agreement would only be concluded after consultation with the relevant Rémy Cointreau employee representative bodies. The transaction is expected to close before the end of 2016.
The Rémy Cointreau Group is a leading operator in the global wine and spirits market with sales of €1.051 billion for the year ended 31 March 2016 and approximately 1,800 employees. It owns a portfolio of global, upmarket brands, including the Rémy Martin and Louis XIII cognacs, the Cointreau and Passoã liqueurs as well as the Metaxa, Mount Gay, St-Rémy, Bruichladdich and The Botanist spirits.
Lucas Bols is the world’s oldest distilled spirits brand and one of the oldest Dutch companies still in business. Lucas Bols owns a portfolio of more than 20 premium and super premium brands of different spirits used in cocktail bars worldwide. Lucas Bols holds the number one position in liqueur ranges worldwide (outside the USA) and is the world’s largest player in the genever segment.
