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Drinks world mourns Patrick Ricard
Pernod Ricard chairman Patrick Ricard, who oversaw the transformation of the family business into a worldwide wine and spirits giant, has died suddenly at the age of 67.
Ricard suffered what is believed to have been a heart attack on the family-owned island of Bendor on Friday, and died shortly afterwards in Toulon’s Saint-Anne Hospital.
The business community in France was swift to pay tribute to Ricard, who was CEO of Pernod Ricard for 30 years until 2008, and remained actively involved in the group as chairman of the board.
Laurence Parisot, president of the French employers federation MEDEF, said Ricard’s death was a “great loss to the business community” and added: “Patrick Ricard was able to embody the entrepreneurial French tradition and the finest modern values.”
François Pinault, founder of luxury goods group and Château Latour owner PPR, described Ricard as “a visionary businessman and a loyal friend”.
Born in May 1945, Ricard was the son of Paul Ricard, who founded the eponymous family drinks business in 1932 after creating Ricard pastis in Marseilles.
Patrick Ricard joined the company in 1967, becoming managing director in 1972 and continuing in that position following the merger with Pernod to create Pernod Ricard three years later.
Named chairman and CEO of Pernod Ricard in 1978, Ricard oversaw three decades of huge expansion of the business through a succession of high-profile acquisitions, including Jameson owner Irish Distillers in 1988 and Jacob’s Creek wine concern Orlando Wyndham a year later.
Three transformational purchases in the first eight years of the new millennium transformed Pernod Ricard into a drinks multi-national second only to Diageo in its size and scope.
The deals included Seagram in 2001 (in partnership with Diageo), when it acquired brands including Martell Cognac and Chivas Regal Scotch whisky; Allied Domecq in 2005, including Ballantine’s Scotch whisky and Beefeater gin; and Sweden’s V&S Group in 2008, the owner of Absolut vodka.
Patrick Ricard was succeeded as CEO of Pernod Ricard by Pierre Pringuet in 2008, but continued as chairman of the board.
Married with three children, his funeral is due to be held on Wednesday on the family-owned island of Les Embiez, where his father Paul was buried following his death in 1997.