"This divestment will enable Pernod Ricard to strengthen its premiumization strategy and focus on its portfolio of Premium spirits and champagne brands," says the group in a statement.
Pernod Ricard plans to sell its Australian, New Zealand and Spanish brands, including well-known brands such as Jacob's Creek, Stoneleigh and Campo Viejo, subject to regulatory approval. The Group did not disclose the amount of the transaction.
(Reported by Emma Rumney, edited by Augustin Turpin)