Pernod Ricard Sells Caribe Cooler
19 Dec 2014 --- Pernod Ricard sells the mexican ready-to-drink Caribe Cooler to mexican conglomerate Bepensa.
Pernod Ricard announces the signing of an agreement with Grupo Bepensa for the sale of Caribe Cooler, a major brand in the Mexican ready-to-drink market.
The transaction also includes the bottling line related to the production of Caribe Cooler together and the relevant inventories.
This disposal is in line with the Group’s strategy to focus on its priority spirits and wines brands.
Philippe Dréano, Chairman & Chief Executive Officer of Pernod Ricard Americas, stated: “The sale of Caribe Cooler highlights both the strong positioning achieved by the brand on the Mexican market and the continuous efforts by Pernod Ricard to focus on its international spirits and wines brands in Mexico, led by Absolut Vodka, Chivas Regal and Ballantine’s Scotch whiskies and Martell cognac.”
Jose Maria Casares, CEO of Grupo Bepensa, added: “We are delighted to welcome Caribe Cooler as a new business unit in our portfolio. It will complement existing business and geographical footprint adding a new highly profitable growth space”.
The closing of the transaction is subject to customary conditions, including its clearance by the Mexican Anti-Trust authorities, and is expected to take place before the end of the fiscal year 2014/2015.
Pernod Ricard was advised in this transaction by BBVA and Curtis, Mallet-Prevost. Grupo Bepensa was advised by J.P. Morgan Securities LLC and Ritch, Mueller, Heather y Nicolau, S.C.
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