Pernod Ricard hands Renault to Altia

Pernod Ricard hands Renault to Altia

Pernod Ricard has sold the Renault Cognac brand to Finnish group Altia for EUR10m (US$14m) in cash.

Pernod Ricard said today (14 October) that the sale also includes some stocks of finished products. The deal is subject to regulatory clearance in Sweden and Norway.

Pernod Ricard's managing director of finance, Gilles Bogaert, said last month that the drinks giant remained "open to making disposals", despite having completed its project to sell off EUR1bn-worth of non-core brands.