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Pernod Ricard agrees to sell Nordic brands
Paris-headquartered Pernod Ricard has agreed to sell Minttu liqueur and its portfolio of Nordic local brands.
The buyer is Hartwall, a leading Finnish multi-beverage company and affiliate of Danish group Royal Unibrew.
Financial details of the deal were not announced. Subject to customary conditions, the acquisition is expected to be finalised during the third quarter of the 2024/25 fiscal year – and by June 2025 at the latest.
The local portfolio of Nordic brands is produced in the city of Turku. It includes spirits, liqueurs and Finnish wine brands. Minttu is described as the best-known liqueur out of the selection.
Pernod Ricard has decided to offload these brands to focus on its premium international spirits and Champagne brands, in keeping with its premiumisation strategy.
The decision came about as the company continues to assess strategic opportunities and active portfolio management.
Pernod Ricard, which owns Martell Cognac and Jameson Irish whiskey, announced the financial results for the first quarter of its 2025 financial year this week.
The company experienced a 5.9% fall in sales during the three months ending on 30 September 2024, largely due to double-digit drops in China and the US.
China’s sales plummeted by 26% while the US dropped by 10%. In China, the decrease was attributed to ‘continuing macroeconomic weakness’.
In other acquisition news, Swedish distillery Mackmyra was saved from bankruptcy earlier this month.
Furthermore, last month, Campari Group bought a stake in the owner of Scotch distilleries Bunnahabhain, Deanston and Tobermory for £69.6 million (US$92m).
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