Pernod Ricard Sells Bisquit Cognac to the South-African Group Distell
Distell Group Limited is South Africa’s leading producer of wines, spirits and ready-to-drinks (RTDs). The Group is listed on Johannesburg Stock Exchange (JSE). Distell employs over 4 200 people and have an annual turnover in excess of €700million.
02/03/09 Pernod Ricard has signed an agreement to sell its cognac brand Bisquit and associated inventories to Distell Group Limited for 31 million euros. The transaction also includes a distribution agreement covering France, Belgium, Switzerland and Luxembourg. Current distribution arrangements in the other countries will remain in place for a transition period.
This disposal is part of the non strategic assets disposal plan communicated after the Vin & Sprit acquisition. The transaction is subject to the approval of the South African regulatory authorities.
Distell Group Limited is South Africa’s leading producer of wines, spirits and ready-to-drinks (RTDs). The Group is listed on Johannesburg Stock Exchange (JSE). Distell employs over 4 200 people and have an annual turnover in excess of €700million.
