FRANCE: Pernod Ricard pockets EUR103m from spirits deal with Arcus-Gruppen
Pernod Ricard has sold off another swathe of non-core spirits brands
The company, which has been selling off non-core assets since it acquired Vin & Sprit for EUR5.69bn (US$8.88bn) in 2008, said earlier today (13 July) that it has sold Danish aquavit brands Aalborg and Brøndums, German brand Malteserkreuz Aquavit and Danish bitter brand Gammel Dansk to Arcus. The transaction has earned the French group EUR103m (US$125.6m).
Pernod has included the Aalborg production plant in Denmark in the deal, which should close in the third quarter of Pernod's current fiscal year.
“The disposal is in line with the group’s strategy to focus on its priority brands,” Pernod said.
Back in 2009, Pernod sold off the Star gin, Red Port and Dry Anis to Norway-based Arcus. To view the other divestments Pernod has made since the V&S buy, click here.
In April, Pernod announced that it had completed the refinancing of the debt it took on to buy V&S, which saw Pernod take control of the Absolut vodka brand, when it signed a EUR2.5bn five-year multi-currency revolving credit facility.
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