Drinks giant Rémy Cointreau is to increase its premium product portfolio through forming a ‘joint venture’ with Dutch company Lucas Bols for the Brazilian passion fruit liqueur brand Passoã.
'Under the proposed joint venture, Rémy Cointreau would contribute all Passoã operations, including trademarks and inventory,' the French multinational says, 'while Lucas Bols N.V. would contribute both its know-how and expertise in the liqueur and cocktail business, as well as working capital. Lucas Bols N.V. would assume operational and financial control of the joint venture.'
'This project forms part of Rémy Cointreau’s strategy to accelerate the move upmarket of its brand portfolio, whereas for Lucas Bols N.V., Passoã would expand its global brands segment, adding a complementary, world famous name.'
A successful deal will be subject to Rémy’s employee representative bodies. In the event of approval, the agreement will be finalised by the end of 2016.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. To subscribe to ESM: The European Supermarket Magazine, click here.
