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Hine Cognac put up for sale
Hine Cognac has been put up for sale by its UK-based owners CL World Brands.
Changing hands: Hine Cognac has been put up for sale
Managing director of the house Francois Le Grelle confirmed the move but said he was unable to reveal any further information at this stage.
Le Grelle added that he had yet to meet with any potential buyers.
Earlier this week, db reported that Hine’s owner, CL World Brands, sold its Scotch whisky arm Burn Stewart Distillers to South African drinks giant Distell for £16m.
Marlon Holder, managing director of CL Financial Limited, the parent company of CL World Brands, said he was confident that Distell would take Burn Stewart to the next level of its international development.
Last September, CL World Brands sold a majority stake in Appleton Estate rum’s parent company Lascelles DeMercado to Italian drinks company Gruppo Campari.
In 2009, Struggling Caribbean company CL Financial Limited came under the management of the Trinidad and Tobago government following a bail out.
Founded in 1763, Hine specialises in vintage Cognacs, which are released in very limited quantities after a minimum of 20 years of ageing.
In 1962, Hine was granted a royal warrant from Queen Elizabeth II, as suppliers of Cognac. It is still the only Cognac house to this day to hold the honour.
The house is celebrating 250th anniversary this year.