PERNOD SALES THREE WHISKEY BRANDS

Pernod Ricard announced today that they have sold their Glen Grant whiskey brand, as well as their Old Smuggler and Braemar to Italy’s Campari for €115 million. Selling the three whiskey brands was a condition the EU set for the company’s acquisition of Allied Domecq last spring and is likely to be finalized early next year. In addition to selling their Dunkin’ Brands, Pernod has greatly reduced company debt. Chief Patrick Ricard said: “The disposal of Glen Grant, Old Smuggler and Braemar following the sale of the Dunkin’ Brands and our minority stake in Britvic, has enabled us to …to reduce indebtedness.”