Grand Marnier could attract interest from major competitors, including Suntory
Grand Marnier, the French-listed cognac, Armagnac, pineau and wine producer, is understood to be looking for a stronger partner that could commercialise the products of the group worldwide, the French daily Le Figaro reported.
The unsourced report said that the family shareholders of Grand Marnier, which control 60%of the voting rights in the company, are being advised by Transaction R, part of the Rothschild group. They could be willing to sell a shareholding in the Grand Marnier brand, while retaining the production and real estate assets of the group. The report cited persons familiar with the matter as saying that this “complex” scheme could be but a prelude to an entire sale of the business.
According to the report, all the major drinks and spirits group have been contacted. Interested bidders could include US group Brown-Forman, Bermuda's Bacardi, Italy’s Campari, UK’s Diageo and William Grant, and French groups Pernod Ricard and LVMH. The report went on to say that the Japanese group Suntory could be especially interested in Grand Marnier and ready to splash out. France's Remy Cointreau, a direct competitor to Grand Marnier with its Cointreau brand, is not interested, the report said.
Grand Marnier reported operating profits of EUR 20.6m on revenues of EUR 126.8m in 2013. The company has a market capitalisation of EUR 387m, the piece noted.
Le Figaro