Altia, a Finland-based wine and spirits company that produces, markets, sells, imports and exports alcoholic beverages in the Nordic and Baltic countries, has signed an agreement with Remy Cointreau to purchase Larsen Cognac for an undisclosed amount.

The purchase includes the brand, industrial and commercial assets and inventories necessary for the group to operate as a going concern.

Founded in 1926 by a Norwegian Jens-Reidar Larsen, Larsen Cognac is one of the major producers of appellation d’origine contrôlée (AOC) Cognac with a unique range of premium products.

Cognacs are developed using distilled wines exclusively from the region of Cognac growing districts such as Borderies, Fins Bois, Petite and Grande Champagne in France.

The blending is performed by cellar master to give Cognac Larsen its unique character and the cognacs are aged in casks and Limousin oak barrels.

Some of the products produced by Larsen Cognac include Viking’s VS Cognac, VSOP, Leif Eiriksson, Très Vieille Fine Champagne, Napoleon, XO, Arctic XO, Viking Shield, Viking Ship, Golden Viking Extra, Extra Reserve, Viking Bell, XO Extra d’Or, Svalbard cognac and others.

Larsen cognac was sold to Remy Martin cognac house in 2012.

The current acquisition will allow Larsen to use Altia’s expertise in the Nordic and Baltic countries, where Larsen has been positioned as a key Cognac brand.

The transaction is subject to authorisation and disclosure procedures in accordance with current regulations for completion.

However, the transaction is expected to be finalised within three months.