EIRE/UK: Pernod close to completing sale of BWG
French-based spirits group, Pernod Ricard, is expected to finalise the sale of its BWG distribution operation, which operates in the Irish Republic and in the UK, to the private equity group, Electra, within the next few months. Pernod's joint managing director Richard Burrows said he expected the negotiations to be completed "by early summer."
Pernod Ricard said that sale terms had been agreed and a contract was now being drawn up. No precise sale price has been mentioned but analysts reckon the company would be sold for around €300m.
BWG's turnover last year is estimated to have been around €1.5 billion, up 12% on the year before. BWG's management team, headed by managing director Leo Crawford, is thought to be taking a small equity participation in the company.
In addition to its wholesale distribution operations, BWG owns the Spar and Mace convenience store franchises in the Republic and Northern Ireland respectively, the Spar franchise in the south-west of England and the Bargain Booze off-licence chain in the UK.
Companies: Pernod Ricard
As Pernod Ricard, Allied Domecq and Fortune Brands close in on the biggest drinks industry deal since the sale of Seagram, opinion about how the deal will be structured and who stands to win and lose ...
Maxxium Worldwide could come under pressure if Pernod and Fortune's Allied Domecq bid is successful, according to press reports today (14 April)....
It's been a quiet day on the Pernod/Allied Domecq front....
Conflicting reports circulated this weekend over whether Bacardi International is looking to form a counter-bid for Allied Domecq....
Todays press reports into Pernod and Fortune's hopes to buy Allied Domecq warn of possible conflicts and set a date for completion....
Pernod Ricard and Fortune Brands are considering a US$13 billion bid for Allied Domecq, the world's second-largest spirits company. Were it to take place, Pernod and Fortune would split Allied's brand...
Pernod Ricard and Fortune Brands are hoping to buy Allied Domecq for around 670p per share, according to press reports....
The US consumer goods group Fortune Brands has confirmed it is in talks about launching a joint bid with Pernod Ricard for Allied Domecq....
- What Brexit means for drinks industry? - Analysis
- Is there a future for the global beer brand?
- What does Brexit mean for AB InBev's SAB deal?
- Can fruit cider survive UK slowdown? - Focus
- How soft drinks can win big with adult consumers
- The UK Referendum - just-drinks Live Blog
- Aldi dealt alcohol sales blow in Australia
- Maxxium eyes US$1.4bn opportunity in UK spirits
- Ex-William Grant CEO Stella David re-joins Bacardi
- Beam Suntory rolls out Larios gin range to UK
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Spirits and Wine: Corporate Overview
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends