Trbusiness. The travel retail Trbusiness. The magazine for global retail and duty free professionals.Pernod disposes of non-core brands
By Administrator |
Further to its acquisition of V&S in July 2008 – and as part of fulfilling its commitments to the European Commission – Pernod Ricard yesterday received approval for the disposal of the Star Gin, Red
Port and Dry Anis brands to the Norwegian Arcus Gruppen AS.
But following the Commission's concerns related to Arcus Gruppen's proposed acquisition of Gr?nstedts Cognac (Arcus Gruppen already owns the Braastad Cognac brand) Pernod Ricard has withdrawn and terminated its offer to sell this brand to Arcus.
It has now signed a new agreement with the Finnish group Altia for the acquisition of this brand. Needless to day, this new transaction is now subject to a separate approval process by the European Commission. No indications were provided by any of the parties as to the prices being asked for any of these smaller brand companies.
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