Disposal nets Pernod Ricard €103m13 July 2012
Swedish firm Arcus-Gruppen has picked up aquavit brands Aalborg and Brøndums, German aquavit Malteserkreuz and Danish bitter brand Gammel Dansk in a deal that will earn Pernod Ricard €103m.
The sale, which is expected to close in Pernod Ricard’s third quarter, also includes a production facility in Aalborg, Denmark.
“The disposal is in line with the group’s strategy to focus on its priority brands,” said a Pernod statement.
Pernod will use the proceeds of the disposal to pay down debts. The firm has been offloading non-core assets since it acquired Vin & Sprit for €5.6 billion in 2008 and set a target to generate €1 billion from disposals in 2009.
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