Pernod offloads €103m of brands

13 July, 2012

By Lucy Britner

Pernod Ricard has signed an agreement with Arcus-Gruppen for the sale of the Danish aquavit brands Aalborg and Brøndums, the German brand Malteserkreuz Aquavit and the Danish bitter brand Gammel Dansk.

The transaction also includes the sale of the Aalborg production plant in Denmark.

Pernod Ricard said the the disposal is in line with the group’s strategy to "focus on its priority brands".

The closing of the transaction is subject to approval by the relevant competition authorities and is expected to be completed by the third quarter of the financial year 2012/13.

Pernod Ricard was advised in this transaction by BNP Paribas, Horten and Gide Loyrette Nouel.