FRANCE: Pernod Ricard sells V&S spirits to Arcus, Gronstedt to Altia

By just-drinks.com editorial team | 1 April 2009

Pernod Ricard has completed the sale of three ex-Vin & Sprit brands to Arcus Gruppen, but competition concerns have forced the drinks giant to remove Gronstedt Cognac from the deal and sell to Altia instead.

Pernod said today (1 April) that it has completed the sale of Star gin, Red Port and Dry Anis to Norway-based Arcus Gruppen, following clearance from the EU Competition Commission.

The Commission blocked Arcus from acquiring a fourth brand, Gronstedt Cognac, due to the existing strong position of Arcus' Braastad Cognac brand in Sweden, Pernod said.

Gronstedt will subsequently be sold to Finnish firm Altia, subject to regulatory approval, the French drinks giant said. Fees for the deals have not been disclosed.

Pernod acquired the brands as part of its acquisition of Sweden's state-owned Vin & Sprit, owner of Absolut vodka, for EUR5.69bn last year.

The EU regulator forced Pernod to commit to selling certain Vin & Sprit brands, before giving clearance for the deal.

Sectors: Spirits

Companies: Pernod, Ricard, Absolut