Pernod Ricard has closed its transaction with Corby Distilleries in Canada.

The two companies confirmed today (2 October) that the deal, which covers distribution of Pernod's brands and the production of Corby's products in the country, completed after the market closed on Friday (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.

Additionally, Corby will gain Canadian representation of Pernod brands including Chivas Regal, Jameson Irish whiskey and Havana Club rum.