HomePress|News & Press Releases|Press releases|Pernod Ricard sells Grönstedts Cognac to Altia and Star Gin, Red Port and Dry Anis to Arcus Gruppen AS

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Pernod Ricard sells Grönstedts Cognac to Altia and Star Gin, Red Port and Dry Anis to Arcus Gruppen AS

04/01/2009

Pernod Ricard sells Grönstedts Cognac to Altia and Star Gin, Red Port and Dry Anis to Arcus Gruppen AS

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Further to the acquisition of V&S in July 2008, and Pernod Ricard’s subsequent commitments towards the European Commission, Pernod Ricard announced on 18 December 2008 the signing of an agreement with the Norwegian group Arcus Gruppen AS regarding the disposal of Grönstedts Cognac, Star Gin, Red Port and Dry Anis.

This transaction was subject to approval by the European Commission.

The approval was granted for the disposal of Star Gin, Red Port and Dry Anis, and the transaction relating to these three brands was completed yesterday.
Regarding Grönstedts, the European Commission expressed concerns on an acquisition by Arcus Gruppen AS, due to the combined market share in Sweden of Grönstedts and Arcus’ cognac brand Braastad.
Consequently, the acquisition arrangements of Grönstedts by Arcus Gruppen AS were terminated, and Pernod Ricard signed an agreement with the Finnish group Altia for the acquisition of this brand.
This new transaction is subject to approval by the European Commission.
 



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