PERNOD RESIGNS FROM THE CENTURY COUNCIL
Pernod Ricard said it’s pulling its membership out of the Century Council (an industry-funded responsible-drinking organization) in a dispute over the group’s support of spirits sponsorships in NASCAR. Pernod’s departure will not be effective until November, which gives the group time to reach a possible compromise.
In the letter, Pernod USA’s CEO Alain Barbet wrote:
“We at Pernod Ricard firmly believe that is inappropriate for the distilled spirits industry to engage in sponsorship of motor sports. We also believe strongly that any involvement of the Century Council in these sponsorship activities runs the risk of damaging its well-earned credibility and undermining its message of responsibility."
Pernod spokesman Jack Shea stated:
"We very much want to continue to be a member of the Century Council but unless we find some way to bridge the gap on this issue, we would be willing to withdraw.”
Ralph Blackman, CEO of the Century Council, remains optimistic, however, claiming, “Everybody is talking and everybody is trying to work it out."
LOOKING TO ADD CALIFORNIA. In other news, Pernod Ricard’s managing director Pierre Pringuet told attendees at a NYC luncheon that adding a California wine to the company’s current wine portfolio may be in the company’s future, according to Reuters. Pernod’s current wine portfolio includes Australian wines Jacob's Creek and Wyndham Estate; Spanish wine Palacio de la Vega; Argentinean brands Etchart and Graffigna; and Montana from New Zealand.
According to the article, however, Alain Barbet pointed out that California wines tend to be expensive, which could serve as a deterrent. The company has made it no secret that they are interested in taking on further acquisitions, but Pernod is still concerned with turning around some of Allied’s weaker brands, such as Kahlua. Buying opportunities, therefore, may be limited, which might take them out of the running for Absolut (if it ever takes place) since it’s likely to be an expensive venture.
In the letter, Pernod USA’s CEO Alain Barbet wrote:
“We at Pernod Ricard firmly believe that is inappropriate for the distilled spirits industry to engage in sponsorship of motor sports. We also believe strongly that any involvement of the Century Council in these sponsorship activities runs the risk of damaging its well-earned credibility and undermining its message of responsibility."
Pernod spokesman Jack Shea stated:
"We very much want to continue to be a member of the Century Council but unless we find some way to bridge the gap on this issue, we would be willing to withdraw.”
Ralph Blackman, CEO of the Century Council, remains optimistic, however, claiming, “Everybody is talking and everybody is trying to work it out."
LOOKING TO ADD CALIFORNIA. In other news, Pernod Ricard’s managing director Pierre Pringuet told attendees at a NYC luncheon that adding a California wine to the company’s current wine portfolio may be in the company’s future, according to Reuters. Pernod’s current wine portfolio includes Australian wines Jacob's Creek and Wyndham Estate; Spanish wine Palacio de la Vega; Argentinean brands Etchart and Graffigna; and Montana from New Zealand.
According to the article, however, Alain Barbet pointed out that California wines tend to be expensive, which could serve as a deterrent. The company has made it no secret that they are interested in taking on further acquisitions, but Pernod is still concerned with turning around some of Allied’s weaker brands, such as Kahlua. Buying opportunities, therefore, may be limited, which might take them out of the running for Absolut (if it ever takes place) since it’s likely to be an expensive venture.
posted at 1:07 PM
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