FRANCE: Pernod Ricard sells V&S brands

Pernod Ricard has signed a deal with Norway's Arcus Gruppen to sell several drinks brands acquired as part of its takeover of Vin & Sprit.

Pernod said today (18 December) that it would sell the brands Grönstedts Cognac, Star Gin, Red Port and Dry Anis to Arcus. A Pernod spokesperson declined to disclose a fee.

Competition officials at the European Commission forced Pernod to commit to the sale of the brands in order for the French drinks giant to gain approval for its Vin & Sprit acquisition.

Pernod won the auction to buy Sweden's state-owned Vin & Sprit, including the Absolut vodka brand, earlier this year. The European Commission cleared the EUR5.69bn deal in July.

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