FRANCE: Pernod Ricard silent on Vin & Sprit brands sale
Pernod is looking to sell Vin & Sprit brands, including the group's portfolio of around 40 wines, such as Blossa Glögg (mulled wine), Chill Out and Opal Springs, Sweden's Dagens Nyheter newspaper reported yesterday (8 September).
Possible buyers of Vin & Sprit, minus Absolut, were named as Ratos and Finland's Altia.
A spokesperson for Pernod Ricard declined to comment on the report when contacted by just-drinks.
The French drinks giant made no secret of the fact that its EUR5.3bn (US$7.58bn) buyout of Vin & Sprit last year was sought purely to attain the Absolut vodka brand. Until that point, Pernod lacked full control of an international vodka in its arsenal of wine and spirits brands.
Since the deal, Pernod has committed itself to a EUR1bn asset disposal plan as part of a strategy to pay down debt "as quickly as possible". The disposal plan is 70% complete, the group said at its full-year results conference this week.
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