Distell, the liquor brands conglomerate controlled by Remgro, called time on its international cognac market strategy by selling its French subsidiary Bisquit for €52.5 million.

On Wednesday, it was confirmed that the cognac brand has been snapped up by acquisitive international liquor group Campari — which, aside from its eponymous aperitif brand, holds the Wild Turkey bourbon and Skyy vodka brands.

Campari CEO Bob Kunze-Concewitz reckoned there would be potential upside in further developing its new business internationally — especially in the US and China.