PARIS--(BUSINESS WIRE)--Regulatory News:
Press Release - Paris, 1st December 2016
Pernod Ricard (Paris:RI) and Bodega Las Copas, a 50/50 joint-venture held by Grupo Emperador Spain and by González Byass, announce today the signing of an agreement for the sale of the Domecq brandies and wines.
The transaction includes the brand portfolio of Mexican brandies Don Pedro, Presidente and Azteca de Oro as well as the winery related to the production of Mexican wines in Ensenada, together with the relevant inventories related to the Domecq brands in several markets, including Spain, United States, Belgium and the Netherlands, among others.
The disposal is in line with Pernod Ricard’s strategy to simplify its portfolio for growth and focus on its priority spirits and wines brands. It reinforces the presence of Bodega Las Copas in the global brandy category.
The closing of the transaction is subject to customary conditions, including its clearance by the Mexican Anti-Trust authorities, and is expected to take place before the end of the fiscal year 2016/2017.
Pernod Ricard was advised in this transaction by BBVA bank and Cuatrecasas Spanish law firm. Bodega Las Copas were advised by Uría Menéndez (Spanish law firm) and Galicia Abogados (Mexican law firm).
About Bodega Las Copas
Bodega Las Copas is a joint-venture based in Spain and held at 50% by
Grupo Emperador Spain and 50% by González Byass. It results from the
agreement of both players to jointly distil wine and produce brandy and
other quality spirits in Spain.
Grupo Emperador Spain is a wholly owned subsidiary of Emperador, the largest brandy company in the world based in Asia with a market leadership position in the Philippines and with presence in 100 countries around the world and operations across South-East Asia and Europe.
González Byass is a family winery dedicated to the making of quality wines and spirits, founded in Jerez in 1835. Well-known brands such as Tío Pepe Fino, wine treasures such as Noé, Apóstoles and the Brandy Solera Gran Reserva Lepanto, have led to the company becoming one of the world’s top winemakers and distillers. Throughout recent decades, González Byass has transitioned into a Family of Wine, incorporating wineries in emblematic regions which faithfully represent the winemaking diversity of Spain.
About Pernod Ricard
Pernod Ricard is the world’s n°2 in wines and spirits with consolidated Sales of € 8,682 million in 2015/16. Created in 1975 by the merger of Ricard and Pernod, the Group has undergone sustained development, based on both organic growth and acquisitions: Seagram (2001), Allied Domecq (2005) and Vin&Sprit (2008). Pernod Ricard holds one of the most prestigious brand portfolios in the sector: Absolut Vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur, Mumm and Perrier- Jouët champagnes, as well Jacob’s Creek, Brancott Estate, Campo Viejo, and Kenwood wines. Pernod Ricard employs a workforce of approximately 18,500 people and operates through a decentralised organisation, with 6 “Brand Companies” and 85 “Market Companies” established in each key market. Pernod Ricard is strongly committed to a sustainable development policy and encourages responsible consumption. Pernod Ricard’s strategy and ambition are based on 3 key values that guide its expansion: entrepreneurial spirit, mutual trust and a strong sense of ethics. Pernod Ricard is listed on Euronext (Ticker: RI; ISIN code: FR0000120693) and is part of the CAC 40 index.