Pernod Ricard slims down Spanish wine division

Pernod Ricard slims down Spanish wine division

Pernod Ricard has confirmed the sale of its Bodegas Marques de Arienzo winery in Spain for EUR28m (US$35.7m) cash.

Pernod said today (22 July) that the sale includes the Marques de Arienzo and Vina Eguia brands and 358 hectares of land.

A consortium made up of Vinos de los Herederos del Marqués de Riscal and Gangutia SL (Bodegas Muriel) has bought the assets in a deal that was signed and completed on 21 July.

Spanish press reported in late June that a deal had been agreed, but Pernod declined to comment at the time.

The move follows Pernod's deal to sell its interest in the Ambrosio Velasco Spanish wines and liqueurs business for EUR33.1m, announced at the start of July.

The French firm has sought to dispose of non-core assets since acquiring Sweden's Vin & Sprit in 2008.