The sale will strengthen Pernod Ricard India’s portfolio, as the business looks to “tap into premiumisation trends and support sustained, profitable growth”, the company said in a statement.
As the company’s second-largest market, Pernod Ricard added India is a “strategic priority, and this realignment improves the ability to capitalize on the country’s strong macroeconomic fundamentals and long-term potential”.
Alexandre Ricard, chairman and chief executive of Pernod Ricard, said: “We are pleased to announce the sale of the Imperial Blue business division, a strategic move to sharpen our focus on more profitable and faster growing brands in India, like in the rest of the world. This transaction represents a win-win for all stakeholders involved, both at the global and local level. It fuels our ambition to succeed even further in one of our top markets. This will further streamline our operations as we continue to invest in India’s outstanding growth.”
Jean Touboul, chief executive of Pernod Ricard India, added the move will “enable the company to allocate resources more effectively toward high-growth brands such as Royal Stag, Blenders Pride, and international brands like Chivas, Jameson, Absolut, and Ballantine’s. Driving the next phase of growth, we are entering an exciting new chapter, one that will see bold innovations and an expanded premium portfolio tailored specifically for the evolving Indian consumer”.
The transaction remains subject to approval from the Competition Commission of India, and closing is expected to occur within the coming months.
