EU rules out one of four Ratos bolt-ons

Ratos-backed wines and spirits supplier Arcus has received approval from the EU to acquire only three out of the four brands it agreed to purchase from Pernod Ricard in December last year.

The EU Commission's competition authority ruled that Arcus could not acquire Gronstedts Cognac, as the group already owns Braastad Cognac and adding Gronstedts would give Arcus too high a market share in Sweden.

Arcus will complete the transaction with the three approved brands: Star Gin, Red Port and Dry Anis.

Formed in 1996, Arcus was privatised in 2001. In 2005, Ratos acquired its 85% stake in Arcus from Sucra AS, a consortium of Danish, Swedish and Norwegian investors, in a deal valuing the business at NOK 820m.

The group employs approximately 460 people and is best known for brands such as Linie Aquavit, Braastad Cognac, Vikingfjord Vodka, Hammer Gin and Upper Ten Whisky. Sales in 2008 totalled SEK 1,532m and operating profit reached SEK 168m.

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