Pernod Ricard sells Glen Grant, Old Smuggler and Braemar to Campari
The sale of Glen Grant, Old Smuggler and Braemar completes the disposal programme of the Group following the Allied Domecq acquisition, thus enabling the Group to continue to reduce its debt.
17/03/06 As announced on 22 December last, Pernod Ricard has sold Glen Grant (brands, inventory, distillery and other associated assets) as well as Old Smuggler and Braemar (brands and inventories) to Campari for EUR 115 million and EUR 15 million respectively.
After the sale of the minority shareholding in Britvic, that of Dunkin' Brands as well as the transfers to Fortune Brands of the brands Canadian Club, Courvoisier, Sauza, Maker's Mark notably, the sale of Glen Grant, Old Smuggler and Braemar completes the disposal programme of the Group following the Allied Domecq acquisition, thus enabling the Group to continue to reduce its debt.
Pernod Ricard wishes every success to its employees joining Campari and to the Campari staff in the development of their new brands.
http://www.marketwire.com/mw/release_html_b1?release_id=113364
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