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FRANCE: Pernod sells Scotch assets to Campari

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Pernod Ricard has sold Glen Grant single malt and two other Scotch whisky brands to Campari for a combined EUR130m (US$154m).

Pernod, the world's number two spirits group, was asked to sell Glen Grant, Old Smuggler and Braemar by the European Commission following its GBP7.6bn (US$13.2bn) takeover of Allied Domecq in July.

Pernod said it would continue to focus on its single malt whiskies The Glenlivet and Aberlour to drive sales in the fast-growing Scotch segment.

Pernod chairman and CEO Patrick Ricard said: "The disposal of Glen Grant, Old Smuggler and Braemar, following the sale of the Dunkin' Brands and our minority stake in Britvic, has enabled us to complete, within a very short period of time, the disposal programme to which the group had committed itself, and, to reduce indebtedness."

Italian wine and spirits group Campari, whose stable includes the eponymous red aperitif and Skyy vodka, paid EUR115m for Glen Grant and EUR15m for Old Smuggler and Braemar. It marks Campari's first move into Scotch, although the company does produce Old Eight and Drury's two Brazilian whiskies it claims has the "same characteristics as Scotch whisky".

Campari officials could not be reached for comment as just-drinks went to press.


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