Anora has decided to sell Swedish schnapps brand Snälleröds as part of efforts to focus on brands the company deems to offer better prospects.
Swedish distiller Saturnus has struck a deal to buy Snälleröds for an undisclosed sum.
The transaction includes the Snälleröds brand and production equipment from a “micro-distillery” located in Ljungbyhed, a town in southern Sweden.
In a statement, Anora said the deal was part of its strategy to “concentrate on its core brands with considerable growth potential”.
Kirsi Puntila, the senior vice president for Anora’s spirits business, said: “The decision to sell Snälleröds brand allows us to focus on our core brands, supporting the growth ambitions of our spirits business.”
Malmö-based Saturnus markets brands including Utö schnapps and Saltö Akvavit.
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By GlobalData“We saw great potential in continue building the already well-known Snälleröds brand and were therefore interested when this opportunity came up,” deputy CEO Ludwig Liepe told Just Drinks.
“Since we already are Sweden’s largest producer of schnapps and aquavit, there are some good synergies in including more brands under our umbrella. The growth potential for the coming years is sales in Sweden on both [state-backed retailer] Systembolaget and horeca and to our neighbouring countries.”
Liepe confirmed no Anora staff are joining Saturnus as part of the deal.
Last month, Anora announced CEO Jacek Pastuszka would leave his position at the helm of the company.
Pastuszka, who joined Anora from Carlsberg last year, informed the company’s board of directors he wants to retire. He will step down when the Koskenkorva vodka owner names a new CEO.
Earlier in October, Anora lowered its forecast on a key profitability metric amid pressure on sales. In 2023, Anora made a number of revisions to its forecasts, issuing one profit warning in December and another in August.
In the first nine months of 2024, Anora generated net sales of €162.7m ($172m), down 6% on the corresponding period the year previous.
EBITDA dropped more than 47% to €15.3m as Anora lapped last year’s gain from the disposal of Larsen Cognac.
Comparable EBITDA declined 21.4% to €15.9m.
