CANADA: Corby, Pernod deal set to be sealed
The Canadian distiller struck an agreement with Pernod in March over the distribution of the French drinks giant's brands and on the production of Corby's products in Canada.
In June, Corby revealed that the moves had been delayed for "administrative purposes" but the company said yesterday (31 August) that the reorganisation of the two companies should be complete by 29 September.
Under the agreement Pernod, which owns a 46% stake in Corby, will continue producing Corby's owned-brands at its production facility in Walkerville, Ontario. Corby will acquire the international rights to Lamb's Rum and the Canadian rights to Seagram's Coolers as part of the deal.
Corby also reflected yesterday on what it dubbed a "solid performance" by the company in fiscal 2006. The company reported earnings and sales figures for the ten months to 30 June. The report came following Corby's decision to change the end of its fiscal year from 31 August.
Corby posted net earnings of C$28m (US$25.3m) on the back of net sales of C$112.4m. The company saw its owned-brands, including Lamb's rum and Polar Ice vodka, contribute over C$99m worth of revenues.
Coinciding with the publication of Diageo's first-half results, this month's just-drinks interview is with Andrew Morgan, president of Diageo's European operations. Morgan took the opportunity to expl...
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