Pernod sells Domecq brandies
As part of Pernod Ricard’s strategy to focus on its priority brands, the firm has sold its Domecq portfolio of brandies and wines to brandy producer Bodega Las Copas.
Bodega Las Copas is a 50/50 joint-venture held by Grupo Emperador Spain and by González Byass in Spain, and is a wholly owned subsidiary of Philippines-based brandy company Emperador.
The transaction includes Mexican brandies Don Pedro, Presidente and Azteca de Oro as well as the winery related to the production of Mexican wines in Ensenada.
It also includes inventories related to the Domecq brands in several markets, including Spain, the US, Belgium and the Netherlands.
The sale is in line with Pernod Ricard’s strategy to simplify its portfolio for growth, and also reinforces the presence of Bodega Las Copas in the brandy category.
The closing of the transaction is subject to customary conditions, including clearance by the Mexican Anti-Trust authorities.
It and is expected to take place before the end of the fiscal year 2016/2017.
Pernod Ricard was advised in this transaction by BBVA bank and Cuatrecasas Spanish law firm. Bodega Las Copas were advised by Uría Menéndez (Spanish law firm) and Galicia Abogados (Mexican law firm).