US: Angostura owner set to buy Pernod plant
Caribbean-based CL Financial, whose holdings include rum producer Angostura and Scotch whisky group Burn Stewart, has secured a "tentative agreement" over the site in Lawrenceburg, Indiana.
Pernod Ricard USA, the local arm of the French drinks giant, announced last year that it would close the site under a move to trim excess capacity in the country following the Allied Domecq takeover in 2005.
The closure was expected to lead to the loss of 400 jobs. However, CL Financial executive chairman Lawrence Duprey said the company's bid for the Lawrenceburg site had been initially accepted due to the synergy benefits and "employment opportunities" it brings. Financial details of the offer were undisclosed.
Duprey added that the planned acquisition would "significantly add" to CL Financial's international spirits portfolio and overall prowess in the market.
Alain Barbet, president and CEO at Pernod Ricard USA, said: "We are extremely pleased to have found a company in our industry that will save jobs by continuing to operate the facility."
The two companies said they would work on finalising the deal but gave no timetable on how long talks were expected to last.
Pernod Ricard's annual results briefing last week suggested the company has consigned the Allied Domecq deal to history. No more talk of bedding down and integration. The emphasis was firmly on the fu...
Pernod Ricard's Jacob's Creek wine brand has secured further listings for its new Three Vines range in the UK....
Pernod Ricard has lined up another vintage from its Mumm Champagne brand for the UK market....
Spirits imports into China posted dramatic gains in 2006, rising by 36.5% to 3.5m nine-litre cases, according to the latest findings from The IWSR Drinks Record....
Pernod Ricard has announced the addition of a new vintage single malt Scotch whisky in the US as part of its Glenlivet Cellar Collection....
Champagne Perrier-Jouët has launched the 1999 vintage of its Perrier-Jouët Belle Epoque marque in the UK....
Pernod Ricard has posted a slight lift in sales for its full-year....
Pernod Ricard is bringing a premium addition to its Campo Viejo wine brand to the UK....
- The category today - Scotch Whisky I
- Today's Market Trends - Scotch Whisky II
- Key Brands Performance - Scotch Whisky IV
- Tomorrow's Market Trends - Scotch Whisky III
- Category Trends - Scotch Whisky V
- Beam Suntory names CFO, makes structural changes
- Diageo to accept US$1m South Korea fine
- Analysts clash over AB InBev SAB Brexit impact
- Pernod switches Travel Retail Europe op's director
- AB InBev unveils Stella Artois three-packs
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global travel retail insights - market forecasts, product innovation and consumer trends
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Consumer and Market Insights: Wine Market in China