Fins buy Norwegian wine giant

Foto: (Scanpix)

The Finnish alcohol producer and importer Altia Corporation is buying the Scandinavian Beverage Group (SBG), the group that dominates the wine market in Norway.

The takeover is a part of Altia’s strategy to become to gain access to all the Nordic countries and the purchase has to be approved by the Finnish competition authority.

SBG operates in the Nordic countries with several different import and sales companies within alcoholic beverages. The group has the market majority for wine in Norway, number two on the Swedish market, a significant actor in Finland, and the company is also represented in Denmark.

SBG will, along its subsidiaries, continue its business in one of Altia’s business areas. The total pro forma turnover of Altia and SBG would amount to about EUR 430 million, and the companies will jointly have 900 employees.

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