SPAIN: Pernod Ricard sells Sherry, brandy to Osborne
The drinks company's Spanish unit said today (4 February) that the conditional agreement with Osborne will see Pernod Ricard España sell brands including the Carlos I, Carlos III and Felipe II brandies and the La Ina Fino sherry and the Rio Viejo Oloroso sherry to Osborne. The sale, for an undisclosed amount, does not include the Domecq brand, the company added.
All of the brands bought by Osborne, together with the brands owned by Pernod Ricard España - Domecq 1820 and Domecq sherries - will continue to be produced by Beam Global in Jerez.
"This deal is in line with Pernod Ricard's strategy of focusing on its main brands, while for Osborne this portfolio completes its present range and is a further step forward in its strategy of growth through acquisitions that provide synergies," the Spanish unit said.
The two companies already have several joint agreements in place. Osborne handles the Spanish distribution of the Seagram's brand, while Pernod distributes Osborne's 103 brandy in a number of Latin American countries. As part of this arrangement, Pernod Ricard will continue to distribute the brands that now belong to Osborne in the Philippines.
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