Merger between Altia and Arcus
The merger of Altia and Arcus was completed on 1 September 2021. The combined company, Anora, is the leading wine and spirits brand house in the Nordics and a global leader in sustainability in the beverage industry.
The leading wine and spirits brand house in the Nordics
Superior pan-Nordic route-to-market
Competitive platform to grow in and outside home markets
Step-change in scale with efficiencies across the value chain
Strong value creation from significant synergies - annual EBITDA net synergies of EUR 8-10 million
The combination was implemented as a statutory cross-border absorption merger whereby Arcus was merged into Altia and dissolved. As merger consideration, the shareholders of former Arcus received 0.4618 new shares in Altia for each share in Arcus owned by them. Arcus’ shareholders received in aggregate shares representing approximately a 46.5% ownership in Anora. The former Altia shareholders received an extra dividend of EUR 0.40 per share.
The Anora share had a temporary secondary listing on the Oslo Stock Exchange from 1 September until 31 December 2022. Read more about share conversions here.
In line with the competition authorities’ requirements, Altia and Arcus agreed on brand divestments to Galatea AB. The divested brands were Altia’s aquavit brands Skåne Akvavit, Hallands Fläder and Brøndums and cognac brand Grönstedts, and Arcus’ aquavit brand Akevitt Spesial and spirits brands S.P.R.T. and Dworek.
29 Sep 2020: Announcement of the merger plan 23 Oct 2020: Publication of the prospectus 12 Nov 2020: Altia and Arcus EGMs were held - shareholders in both companies approved the merger plan. Learn more about Altia's EGM here. 25 Nov 2020: Altia dividend payment (AGM authorised, 0.21e per share) 1 Sep 2021: Merger completed: Anora is formed
In connection with the closing Altia extra dividend payment (0.40e per share)
Ex-dividend date 26 Aug 2021
Dividend record date 27 Aug 2021
Dividend payment date 3 Sep 2021
Documents related to the merger
Stock exchange releases
Anora announces future operating model (15 Oct 2021)
Approval of a supplement to the merger prospectus (9 November 2020)
Merger Announcement Release (29 Sep 2020)
Merger prospectus and supplements
Arcus' financial information
Altia's financial information
Altia's previous financial statements can be found on the Reports and presentations page.