Rémy Cointreau and Lucas Bols have announced that they have entered into exclusive negotiations with a view to forming a joint venture, based in France, to operate and further develop the global activities of the Passoã brand, the passion fruit liqueur.
Under the proposed joint venture, Rémy Cointreau would contribute all Passoã operations, including trademarks and inventory, while Lucas Bols would contribute both its know-how and expertise in the liqueur and cocktail business, as well as working capital. Lucas Bols would assume operational and financial control of the joint venture.
Rémy Cointreau said the project forms part of its strategy to accelerate the move upmarket of its brand portfolio, whereas for Lucas Bols, Passoã would expand its global brands segment, adding a complementary, world famous name.
The companies said that if an agreement is reached, the transaction would be completed before the end of 2016.
- A possible template for other categories?
- If so, worth conducting what-ifs on possible partnerships via your portfolio…?
- …or failing that, how about possible moves by disrect competitors?