News

FRANCE: Pernod Ricard sells Bisquit Cognac

Most popular

Indonesia the wildcard in CCA buy - comment

Why rum should avoid gin's template for growth

Will Diageo earn its gin wings with Aviation?

The just-drinks analyst returns

What rum needs to do to recognise its potential

MORE

Pernod Ricard has agreed a deal to sell its Bisquit Cognac brand to South Africa's Distell Group for EUR31m, as part of the French group's strategy to dispose of peripheral brands.

Pernod said today (2 March) that the deal, which remains subject to regulatory approval, also includes distribution rights in France, Belgium, Switzerland and Luxembourg.

Pernod CEO Pierre Pringuet said last year that the drinks giant planned to dispose of up to EUR1bn-worth of "peripheral brands", following the firm's takeover of Sweden's Vin & Sprit.

The move gives Distell, which owns brands such as Amarula Cream and Savanna cider, a presence in Cognac for the first time. The group last month reported an 18% rise in net profit for the six months ended 31 December, to ZAR651m (US$63.5m). Net sales rose by 22% to reach RND6.1bn.


Sectors: Spirits

Companies: Pernod Ricard, Ricard, Distell

Related Content

Gruppo Campari lines up US$62.2m Bisquit Dubouché et Cie Cognac buy

Gruppo Campari lines up US$62.2m Bisquit Dubouché et Cie Cognac buy...

Gruppo Campari's Bisquit Cognac purchase - find the serve, make the brand - Comment

Gruppo Campari's Bisquit Cognac purchase - find the serve, make the brand - Comment...

Bisquit write-down fails to shake solid Distell FY - results

Bisquit write-down fails to shake solid Distell FY - results...

Pernod Ricard Asia CEO calls for calm on China XO Cognac prices, cools social credit fears

Pernod Ricard Asia CEO calls for calm on China XO Cognac prices, cools social credit fears...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?