PERNOD FULFILLS EC REQUIREMENTS

In accordance with the European Commission, Pernod Ricard signed two agreements with Campari for the disposal of its Glen Grant, Old Smuggler and Braemar products they acquired last year after taking over Allied Domecq. The transaction came out to about €115 million and €15 million respectively and marks Campari’s first move into the key Scotch whiskey segment. Campari’s chief Enzo Visone said Scotch whiskey was “one of the most important spirits categories in the world, a segment with great potential internationally as well as in the domestic market.” The new brands had already built popularity in the U.S., Eastern Europe, Italy, Argentina, Thailand and China which Campari intends to expound on.