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CANADA: Pernod talks to Allied-controlled Corby

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Pernod Ricard has been conducting talks with Corby Distilleries Ltd in Canada. The distiller, which is 51%-owned by Allied Domecq, confirmed yesterday (9 May) that it has been in discussion with Pernod regarding the possible takeover of Allied by the French company.

Should the proposed transaction proceed, Corby said, subject to the outcome of further discussions, Pernod has informed the distiller that it intends to retain Corby as the marketer and distributor in Canada of the Allied brands that it retains.

In a statement, Krystyna Hoeg, president and CEO of Corby, said: "We are encouraged to have had open communication with Pernod Ricard and are pleased with the information provided so far. There can be no assurance, however, that the proposed transaction between Pernod Ricard and Allied Domecq will be completed and, consequently, that the matters discussed with Pernod Ricard will come about.

"Based upon Corby's internal analysis, irrespective of whether the proposed transaction proceeds, Corby does not anticipate any disruption of production of its owned-brands, currently produced under agreement by Allied Domecq for Corby."


Sectors: Spirits, Wine

Companies: Pernod Ricard, Allied Domecq

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