Pernod Ricard is completing its drive to refocus on its core spirits and wine business in Poland. The group has sold the Agros Fortuna branch of its subsidiary Agros Holding to Entreprise Investors, an investment fund. Agros Fortuna's main products are Fortuna fruit juices, Lowicz jams and Krakus canned vegetables. The branch has sales of some €140m and employs 1,500 people, all of whom will be re-hired by the purchaser.

The selling price of €54m is equivalent to the enterprise value of Agros Fortuna, Pernod said.

Pernod Ricard's sole business in Poland is now spirits and wine. The operating subsidiary Wyborowa SA produces the group's vodkas and distributes its international product range on Poland's domestic market.

Commenting on the recent dismissal by the Polish parliament, the Diet, of an amendment to the law on spirits that challenged the ownership of the Wyborowa brand, Yves Flaissier, chairman of Wyborowa SA said: "As Poland prepares to join the European Union, this outcome demonstrates its maturity as regards trademark protection and the safeguarding of foreign investments." Flaissier added: "Our strategy aims to develop Wyborowa worldwide by stressing its authenticity as a genuine Polish wodka."