Pernod Ricard offloads Mexican RTD brand

Pernod Ricard has sold its Mexican Caribe Cooler RTD brand to Grupo Bepensa for an undisclosed sum in order to focus on its international brands in Mexico.

Pernod Ricard has sold its Caribe Cooler RTD brand to Mexico’s Grupo Bepensa

Available in Mexico only, Caribe Cooler is described as a “major brand” in the Mexican ready-to-drink market.

Its acquisition Mexico-based conglomerate Gropo Bepensa, which has also gained control of the brand’s bottling line, is expected to be finalised by the end of fiscal year 2014/15 pending its clearance with the Mexican Anti-Trust authorities.

Pernod Ricard said that in offloading the brand, it is able to push ahead with strategy for its priority spirits and wine brands.

“The sale of Caribe Cooler highlights both the strong positioning achieved by the brand on the Mexican market and the continuous efforts by Pernod Ricard to focus on its international spirits and wines brands in Mexico, led by Absolut Vodka, Chivas Regal and Ballantine’s Scotch whiskies and Martell Cognac,” said Philippe Dréano, chairman and CEO of Pernod Ricard Americas.

In November this year, Diageo announced it had swapped its Bushmills Irish whiskey for full ownership of Don Julio Tequila, which analysts claimed had the ability to “transform” the firm’s operations in Mexico.