MARKETING/DESIGN/CONSUMER TRENDS/INSPIRATIONS Cognac & Brandy News for Consumers & Industry Experts
2013 is an important year for Hine:
(1) Hine celebrates its 250th anniversary,
and (2) Hine was for sale and found a new owner.
It was in the air for the past 3 years as CL World Brands, which operates as a subsidiary of CL Financial, was going through some difficult times.
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 limited quantities after a minimum 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. I see Hine as the most British brand of cognac. Although largest brands are pretty much all connected to this part of the world (i.e. including Ireland). That is Hennessey, Martell, Remy Martin, Courvoisier, Hine, Hardy, etc. Why so many Anglo-British brand?
Well, they historically were the largest consumers. And my personal take is they were the best businessmen too! Hence, the designation for cognac VS (very special), VSOP (very superior old pale), and XO (extra old). Originally, the designation were in French: fine cognac (=VS), vieille fine cognac (=VSOP), and Hors d’Age (=XO). But these designations did not mean much in the native languages of the majority of the consumers which explains why English designations became the norm. Some brands still uses the French designations. Comandon Cognac for instance uses both French and English, see below.
CL World Brands, which operates as a subsidiary of CL Financial, has completed the sale of Thomas Hine and Company Cognac house to EDV SAS for an undisclosed amount, estimated at 60 million of Euros according to the newspaper Charente Libre.
EDV SAS, a French firm, is managed by the descendants of the family behind wine trader and retailer Établissements Nicolas. So at the end, Hine can celebrate its 250th with a big Cocorricco, since the brand is back to French ownership!
Commenting on the transaction, EDV SAS was quoted by guardian.co.tt as saying, “Our strategy is to pursue the development and outreach of the Hine brand, in preserving its exclusive positioning on the market and the exceptional quality of its products, as well as in perpetuating the traditional values of its founding family.”
Something there is no doubt Bernard Hine is appreciating!
Nicolas is a reputable retailer of fine wine & spirits established in Paris since 1822. Hine will be a good asset to Nicolas and vice and versa.
Earlier this year, CL Financial sold Appleton rum to Campari (Italy) and Burn Stewart Distillers to Distell (South Africa).
Hine Cognac’s product portfolio includes Hine Rare VSOP, Hine Antique XO, Hine Jarnac-matured Vintage Cognacs and Hine Early-Landed Vintage Cognacs with an annual turn over of 14 million euros.
However, one has to wonder what will happen to Cognac Davidoff, a licensed brand which Hine just recently acquired from Hennessy, and also Cognac Monnet which were additional brands which Hine owned!
Source: Spirits Drinks Business
Source Photos: www.hinecognac.com