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Pernod disposes of minor brands
By Becky PaskinPernod Ricard has disposed of a handful of minor aquavit and bitters brands in Denmark and Germany as it continues to follow a debt reduction strategy.
Pernod considered Aalborg Akavit a minor brandThe drinks group pocketed €103million from the sale of Danish aquavit brands Aalborg and Brondums, German brand Malteserkreuz Aquavit and Danish bitter Gammel Dansk to leading Nordic player Arcus-Gruppen.
The deal, which is expected to be completed by Q3 2012/2013, also includes the sale of the Aalborg production plant in Denmark. It remains subject to approval from the relevant competition authorities.
A statement issued by Pernod Ricard, which is set to announce its end of year results in August, said the ‘disposal is in line with the Group’s strategy to focus on its priority brands’.
Arcus-Gruppen distributes its brands, including Linie Aquavit, Braastad Cognac and Vikingfjord Vodka into all countries in the Nordic region.
Less than a month ago Pernod Ricard acquired Hite-Jinro’s remaining 30% stake in Pernod Ricard Korea Imperial for €48m cash, giving it complete control of the subsidiary.