FRANCE: Pernod, Bacardi quiet on Tequila purchase talk
Reports this morning have suggested that Pernod and Bacardi are among the bidders in the race to buy the Mexican Tequila maker.
In April this year, Herradura was reported to be looking for buyers. Estimates at the time valued the company at between US$650-US$750m. The brand is known both for its premium anejo and reposado Tequilas as well as its standard brand Jimador.
Final bids for the company came in ten days ago. Pernod is thought to be a front runner, along with Bacardi and Brown-Forman. Pernod reluctantly sold Sauza Tequila to Fortune Brands last year as part of its Allied Domecq acquisition.
"We have no comment to make (on the reports)," a spokesperson for Pernod told just-drinks today. When contacted today, a spokesperson for Bacardi said: "Bacardi has a long standing policy of not commenting on speculation." No-one was available for comment at Brown-Forman.
In April last year, Pernod's chairman and CEO, Patrick Ricard, said that it would have been "a dream" to retain Sauza as part of its purchase. Pernod sold Sauza, among a slew of other former Allied brands, to Fortune to secure the US company's financial backing for the Allied takeover.
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