DENMARK – Anora Group, a Finnish distilled beverage and wine company, has finalized the €80million (US$83.5m) acquisition agreement with Globus Wine, a market leader in the bag-in-box segment in Scandinavia Denmark.

Anora noted that the purchase price which has been paid in cash and financed with debt is equivalent to an enterprise value of €90million (US$93.9m).

Anora believes the acquisition will strengthen its position as one of the top wine suppliers in the Nordics (the sovereign states of Denmark, Finland, Iceland, Norway, and Sweden).

The acquisition will also support the expansion of Anora’s partner and own wine businesses across the Nordics, the company said.

Anora, owner of key brands, such as Koskenkorva, Linie, O.P. Anderson, Larsen, Skagerrak, and Chill Out, said it has plans to consolidate Globus Wine to Anora Group as of the third quarter of 2022, taking in the previous 139 employees from Globus Wine.

Anora CEO Pekka Tennilä, commented, “Through this acquisition, Denmark will be one of our markets where we have leading positions in both wine and spirits. “

Like Anora, Globus Wine believes in sustainable business, using wind power and significantly reducing the CO2 footprint of wine with logistics solutions and climate-smart packaging.”

Anora Group, formed in 2021 as a result of the merger of Norway’s Arcus Group and Finland’s Altia Group, reported net sales of €133.4million (US$139.2m) in the first quarter of its financial year 2022, on a par (-0.6%) with its prior-year performance.

Meanwhile, Globus Wine which boasts to be the largest capacity in Northern Europe to offer filling services to international wineries and wine importers, generated net sales of 73.9million (US$8.3m) in its financial year 2021, while adjusted EBITDA amounted to €8.9million (US$9.3m).

According to the Centre for the Promotion of Imports from developing countries (CBI), Bag-in-Box (BiB) wine is very popular in the Nordic wine markets.

CIB adds that between 39% (Finland) and 52% (Sweden) of the total wine sales in the Nordic countries are packed as BiB, with other packaging varieties like PET bottles accounting up to 3.7% of total wine sales and Tetra packs up to 6.8% of total wine sales.

The Nordic market, where the Anira Group intends to strengthen its position, is forecasted to witness a growth in wine driven by its increasing popularity in the past few years and rising adoption of wine among all age groups.

Revenue in the Wine segment is estimated at US$3.96 billion in 2022 and the market is expected to grow annually by 6.93% (CAGR 2022-2025), according to data from Statista.

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