The Finnish Competition and Consumer Authority (FCCA) has conditionally approved the merger of state-owned spirits producer Altia with the Norwegian alcoholic beverage company Arcus, according to Altia’s statement on Monday.
According to the FCCA, in order to be fully approved, Altia will have to sell ownership of its Skรฅne Akvavit brand and Arcus will have to terminate contracts related to the strawberry-flavored liqueur, the Metsmaasikas brand.
The transaction is also subject to the approvals of the Swedish and Norwegian competition authorities.
Altia said both companies were fully committed to the merger and were working with the authorities to gain full approval by June. However, the company pointed out that the merger could still be delayed until the fall.
Nordic alcohol companies announced merger plans last autumn, and the deal was expected to be completed by the beginning of this year. However, according to the Finnish, Norwegian and Swedish competition authorities, the arrangement needs to be examined in more detail.
If and when the merger takes place, the merged entity will be renamed Anora and Altia’s current CEO, Pekka Tennilรค, continues its mission under a new name.
The state-owned Altia produces some of Finland’s most popular spirits, including the Koskenkorva grain drawing and the cut brandy Jaloviina. At the same time, Arcus markets a variety of wine and other beverage brands, including Gammel Dansk bitters.
Source: The Nordic Page