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Hine Cognac sold for undisclosed amount

Published:  24 September, 2013

Hine Cognac, which was put up for sale in April by UK-based CL World Brands, a subsidiary of the Caribbean group CL Financial, has been sold to French company EDV SAS for an undisclosed amount.

Local reports put the sale to between €40-€60 million. CL Financial is currently undergoing major sell-offs, following a liquidity crisis in 2009. Additionally, the company recently sold Appleton Rum to Gruppo Campari and Burn Stewart Distillers to Distell in South Africa.

EDV SAS is managed by the descendants of the family behind distributor Nicolas, a large retailer and distrubtor of wines in France.

Hine is known for producing premium Cognacs including a collection of vintage Grande Champagne Cognacs, H By Hine, Rare VSOP, Homage, Triomphe and Antique XO 1er Cru.

Hine Cognac also announced it is releasing 250 bottles of single barrel Grande Champagne Cognac with an rrp of £9,000 in celebration of its 250th anniversary. The Limited edition 1953 Vintage Cognac will be bottled in Baccarat crystal and should be available in October.