BREAK OUT THE BUBBLY, PERNOD’S ON THE PROWL

Pernod Ricard reportedly wants to grow their champagne business which already ranks 4th worldwide thanks to Mumm and Perrier-Jouet. CEO and Chairman Patrick Ricard told a group of reporters and analysts that Pernod has a “huge ambition” to become a major player in champagne, according to CNN. Patrick told the group that the company would use an “aggressive development strategy” but only after they have fully digested their new Allied brands.

However, he avoided any questions about possible acquisitions, such as Taittinger, which was put up for sale by Starwood Capital. UB Group has also showed interest in Taittinger by putting up an $800 million bid, along with the Taittinger family and Alain Thienot vying for the company. The Taittinger auction is supposed to close this week.