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Another Cognac House Falls – Larsen Cognac sells to Remy Martin

Larsen, the Norwegian owned cognac House in Cognac has been bought by Remy Martin for an undisclosed sum. The firm was known for their Viking ship bottles and Norsemen ceramic decanters that were often seen in duty free shops at airports. Remy have agreed to keep the brand going as it will fuel their range of customers in the Scandinavian markets. Larsen were negoçiants and don’t make any cognacs themselves but buy them in, mainly from the Champagnes.  This may well be another reason why Remy were interested, as like the other big houses, they are desperate to get their hands on as much good quality stock as they can to feed their Chinese customers.

Larsen moved to Cognac in 1919, seduced by the quality of the French brandies. He became well known in the area and was regarded as a connoisseur of fine cognacs. His brand is a market leader in Scandinavia where customers are able to buy Larsen cognacs in the Limoge decanters as well as the luxury Baccarat Crystal decanters that have become synonymous with the brand. It is a shame that yet another of the old cognac houses has fallen to the big four but maybe this was inevitable due to the pressures on the market and the rising cost of cognac.  Larsen supply a range of blended cognacs all containing additives.

Menuet Cognacs sold to a Chinese Buyer

Many years ago Brandyclassics bought cognacs from Menuet Cognacs; they were great cognacs and the cellar contained some very special stock from 1947 and some superb 50 y.o. Unfortunately the company got into a lot of trouble and the firms owner sold most of his stock and bought cheaper cognacs from a well known and very good negoçiant whom Brandyclassics brought together, so that they were able to carry on with the name, supplying markets particularly in Russia.

This month we have heard that the name Menuet has been sold to a Chinese buyer, the first Chinese venture into cognac. We understand that there was some family concern at the sale since the firm was established in 1850.

Profits going up again for the big houses

Luxury goods giant LVMH reported a 1% rise in net profit this week as the company continues to show strong growth despite economic uncertainty in Europe. The groups net profit topped €3 billion, as sales jumped 16% last year, driven mainly by strong spending in Asia. The groups Chief Executive, Bernard Arnaud said growth was much the same as the previous year and he is expecting next year to grow yet again.

Remy Martin are also expecting a big jump in profits 18%) as indeed are those of Pernod Ricard, owners of the Martell brand. The big four Cognac houses are anticipating further growth as a result of continued strong sales in the Asian markets. It is expected that sales volumes will greatly increase in 2012.

Russians are selling Cognac Jenssen after 7 years

The Jenssen cognac brand was created in 2000 by a Norwegian investor who later sold it to the Russian wine and spirit group MMVZ in 2005.

The firm has failed to show a profit and has been the subject of much controversy when it was discovered that Andrei Borodin, the ex president of the Bank of Moscow, was declared the real owner of the Business – he had been involved in many banking scandals.

The estate consists of around 20 hectares (50 acres), with a distillery and a large house with a swimming pool. Espen Soland, who was in charge of the domaine has returned to Norway and since then a Ms Aline Duverger has been in charge but has been unavailable to comment on the business and sale.