Pernod Ricard has sold its Domecq brand Mexican and Spanish subsidiaries to the Emperador Group and Gonzalez Byass for an undisclosed sum.

 

Pernod Ricard and Bodega Las Copas, the 50/50 joint venture held by Grupo Emperador Spain and by González Byass has now signed the agreement for the sale of the Domecq company’s brandies and wines.

 

In a statement, Pernod Ricard said: “The transaction includes the brand portfolio of Mexican brandies Don Pedro, Presidente and Azteca de Oro, as well as the winery related to the production of Mexican wines in Ensenada, together with the relevant inventories related to the Domecq brands in several markets, including Spain, United States, Belgium and the Netherlands, among others.

 

SALE IN LINE WITH SIMPLE PORTFOLIO POLICY

“The disposal is in line with Pernod Ricard’s strategy to simplify its portfolio for growth and focus on its priority spirits and wines brands. It reinforces the presence of Bodega Las Copas in the global brandy category.”

 

Pernod Ricard adds that the closing of the transaction is subject to the customary conditions, including its clearance by the Mexican anti-trust authorities, 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).