Pernod sells peripheral brands

As predicted in last week’s Finance on Friday email alert, Pernod Ricard has disposed of some peripheral brands. The French group has revealed that it is shedding Serkova vodka and Lubuski gin.

Serkova – a brand primarily consumed in Greece – has been sold to Greek importer Amvyx SA, which in early January lost the distribution rights for Absolut Vodka (and Plymouth gin) to Pernod Ricard Hellas, Pernod Ricard’s subsidiary in Greece.

Pernod has also signed an agreement to sell Lubuski Gin to Vinpol, a subsidiary of the German group Henkell & Co. Sektkellerei, an independent producer and distributor of wines and spirits in Europe. The transaction will be completed after securing approval from competition authorities, including the European Commission.
 
Meanwhile, in December, Pernod agreed to sell the Gronstedts Cognac, Star Gin, Red Port and Dry Anis brands to Norway’s Arcus Gruppen. These sales were forced on Pernod Ricard by Brussels as part of its approving the takeover of Vin & Sprit and the Absolut vodka brand.
 
Speculation continues that Plymouth Gin will be sold to Campari, which has expressed a formal interest in the brand.

Patrick Schmitt, 21.01.09