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News
Pernod Ricard sells off Scandanavian companies
Pernod Ricard has continued its disposal drive by agreeing to sell off several Swedish and Danish assets to Finnish firm Altia.
The transaction, worth €82 million, will see Pernod Ricard sell off several drinks firms including Explorer vodka, Lord Calvert whisky, 1 Enkelt bitter, Blossa glögg and Chill Out wines.
The company will also hand over a bottling firm located in Svenborg, Denmark and two logistic centres in Denmark and Sweden.
The transaction is still subject to regulatory approvals, including that of Swedish competition authorities.
Pernod Ricard is pursuing a €1 billion disposal plan, announced after the group’s acquisition of Absolut vodka for €5.3bn 18 months ago.
Altia, a wine and spirit service company producing, distributing, marketing and selling its own and supplier brands, is owned by the Finnish state and operates throughout the Baltic and Scandinavia.
In 2009 their net sales amounted to €407.3m and the deal will add 280 new staff to its 950-strong workforce.
Altia’s CEO Antti Pakakoski said: “The acquisition is a natural step in our strategy to strengthen our presence in our home markets of the Nordic and Baltic countries.”
Rupert Millar, 17.02.2010