Pernod Ricard announces disposal of Glen Grant, Old Smuggler and Braemar to Campari
Pernod Ricard honours its commitment to the European Commission to dispose of Glen Grant, Old Smuggler and Braemar brands, within the framework of the Allied Domecq Plc acquisition.
26/12/05 The Pernod Ricard Group has signed two agreements with Campari for the disposal of both its Glen Grant single malt whisky (brands, inventories, distillery and other associated assets) and Old Smuggler and Braemar (brands, inventories). These transactions amount to around €115 million and €15 million respectively.
Pernod Ricard thus honours its commitment to the European Commission to dispose of Glen Grant, Old Smuggler and Braemar brands, within the framework of the Allied Domecq Plc acquisition.
The transaction should close in the 1st quarter of 2006 upon receipt of the different administrative authorities approvals, in particular that from the competition authorities.
The Group’s priority brands of single malt whiskies remain The Glenlivet and Aberlour.
Pernod Ricard was advised in these transactions by BNP Paribas and the Macfarlanes and Maclays law firms.
