Pernod Ricard has announced the completion of the sale to Altia of a number of Swedish and Danish assets for €87 million (SEK 835 m), following satisfaction of regulatory conditions.
The transaction is believed to include:
- a number of local wine and spirits brands including Explorer vodka, Lord Calvert whisky, 1 Enkelt bitter, Blossa glögg and Chill Out wines;
- A bottling facility located in Svendborg, Denmark;
- Two logistic centres located in Odense, Denmark and Årsta, Sweden.
Related long-term production, bottling and logistic services agreements between Pernod Ricard Sweden, Pernod Ricard Denmark and Altia have also been concluded.
Altia is a wine and spirit service company producing, distributing, marketing and selling own and supplier brands. It distills barley spirit for alcoholic beverages. It has a roster of local products and a few international brands such as Koskenkorva, Maximus and Grönstedts. It also represents some international brands.
Altia is owned by the Finish government and in 2009, net sales of Altia amounted to €407m. The company operates in Finland, Sweden, Norway, Denmark, Estonia and Latvia. Altia has a distillery in Koskenkorva (Finland) and a beverage plant in Rajamäki (Finland). The Tabasalu alcoholic beverage plant in Estonia is a producer of smaller lots. Altia is the market leader in Finland and is a leading player in Sweden.
The transaction brings Pernod Ricard closer to the achievement of its €1billion disposal plan.