Pernod sells off minor assets

Pernod sells off minor assets

Pernod Ricard has taken another baby step towards its EUR1bn assets disposals target after completing the sale of several Nordic drinks brands to Finland's Altia.

Pernod agreed in February to sell the assets to state-owned Altia for SEK835m (EUR87m, US$115m).

Brands sold to Altia include Explorer vodka, Lord Calvert whisky, 1 Enkelt bitter, Blossa glögg and Chill Out wines. A bottling facility located in Svendborg, Denmark, and two logistic centres located in Odense, Denmark and Årsta, Sweden, are also part of the sale.

Pernod has agreed long-term production, bottling and logistic services agreements with Altia.

The deal takes Pernod a step closer to achieving its EUR1bn target in assets disposals, set following the French firm's takeover of Sweden's Vin & Sprit in 2008.