Japanese drinks giant Suntory has announced that it has agreed the sale of its cognac unit Louis Royer to Terroirs Distillers.
The value of the deal is in the order of 13 billion yen ($105 million).
Terroirs is a France-based, privately owned spirits company that owns The Tullibardine and Highland Queen Scotch whisky brands. It is reported that the sale was part of a review of the company’s product portfolio following the purchase of US spirits maker Beam, which brought cognac brand Courvoisier into the Suntory group.
Louis Royer produces a range of cognacs including VS, VSOP, Force 53, XO, Distillerie, 38 Years, Extra and Preference.
The sale of Louis Royer, including the cognac brand, the ageing spirit inventory and production facilities in France, is expected to be completed at the end of August.
Source: Suntory / Louis Royer / Harpers