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Pernod Builds Fortune
Pernod Ricard has completed its acquisition of Allied Domecq for £7.4 billion, making Pernod the second largest spirits business in the world, behind Diageo.
Pernod’s portfolio will be strengthened by the inclusion of spirits brands such as Ballantine’s whisky, Beefeater gin and Kahlua as well as the Mumm and Perrier- Jouët Champagne brands. The enlarged company will shift around 77 million cases of spirits and 18m cases of wine a year. Mr Ricard says he has no plans to change the name of his group.
Certain Allied brands have been transferred to Fortune Brands, which helped finance the 6750 pence cash and shares offer. Fortune, a US$7bn company which owns golfing and office equipment brands, as well as Jim Beam Brands, will gain Courvoisier Cognac, Sauza tequila, Canadian Club whiskey, Laphroaig single malt, Teacher’s whisky, Cockburn’s Port, Harvey’s Sherry, Larios gin, DYC whisky, Fundador and Centenario Spanish brandies, Kuemmerling bitters and Clos du Bois wines. The company is waiting for regulatory clearance in the US for Maker’s Mark, which Fortune has also bought. The new brands will more than double revenue for Fortune’s spirits and wine business and place it among the top four companies in the world. Fortune paid approximately £2.8bn for the brands, production facilities and distribution assets.