UK/MEXICO: Diageo and Pernod Ricard take on more ex-Seagram brands
Meanwhile, it has also been announced that Diageo is to acquire the Don Julio tequila brand from Pernod Ricard. The French drinks group originally took over the brand as part of Seagram's Mexican assets.
Passport has annual sales of around 850,000 cases, with its main export strongholds in the US, South Korea and Brazil. The sale of Passport will become effective once regulatory approval has been gained.
Diageo already has the Cuervo tequila brand in its portfolio but Don Julio is an ultra-premium brand and the deal also includes the Don Julio agave fields and production plant. Pernod Ricard said it now intends to focus on its other tequila brands, Olmeca, Viuda de Romero and Margaritaville.
Diageo is to launch a new global advertising campaign for Smirnoff Ice. The first ad in the global campaign, 'Garden', launches in Great Britain on April 11th on terrestrial and satellite TV. ...
Fideuram Wargny has upgraded its rating of Pernod Ricard to 'buy' from 'hold'. Its analysts argue that the merger talks with Allied Domecq is a catalyst for share growth....
Pernod Ricard is looking to acquire Allied Domecq....
Allied Domecq and Pernod Ricard have both been downgraded....
Diageo has completed another share buyback transaction....
E&J Gallo has announced a number of appointments within its European division....
Diageo's Smirnoff Signatures line of premixed cocktails is now available nationwide in the US....
Diageo is poised to cut back its presence in Germany, according to local reports....
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