PERNOD ANNOUNCES PLANS TO LAUNCH ULTRA-PREMIUM CHAMPANGE
Pernod Ricard announced yesterday at its company’s annual shareholders meeting that it plans to launch an ultra-premium champagne that will run laps around Cristal, Krug and Dom Perignon as the world’s most expensive bubbly, according to Decanter.
Says Chairman Patrick Ricard:
“It will cost around 1,000 euros a bottle. We won't do many cases.”
Little was reportedly said about the champagne other than it would be launched under the Belle Epoque brand, referring to Pernod subsidiary Perrier-Jouet’s top cuvee.
Does anybody spot a trend? Pernod is clearly trying to push its brands into a more expensive segment as it faces competition with larger luxury groups such as LVMH.
“It is a fact that consumers all over the world want to identify with brands that represent themselves. This has to be brands with quality which are exclusive,” said managing director Pierre Pringuet.
SHAREHOLDERS APPROVE POISON PILL. Also taking place at the shareholders meeting was a vote on whether or not to approve the “poison pill.” As expected, a majority of shareholders (59%) voted to approve the poison-pill measures designed to protect Pernod from any future hostile takeover bids.
The Associated Press reported that Ricard defended the anti-takeover measure by stating:
"The objective is not to avoid a takeover bid, but to make any acquisition as expensive as possible," he said.
The so-called poison pill allows companies to issue stock purchase warrants to existing shareholders at a discount, potentially deterring hostile takeovers and upping the final price. Management argues that the measure will protect ordinary investors and prevent any unexpected takeovers, although the size of Pernod makes it a less likely target for a hostile takeover.
Says Chairman Patrick Ricard:
“It will cost around 1,000 euros a bottle. We won't do many cases.”
Little was reportedly said about the champagne other than it would be launched under the Belle Epoque brand, referring to Pernod subsidiary Perrier-Jouet’s top cuvee.
Does anybody spot a trend? Pernod is clearly trying to push its brands into a more expensive segment as it faces competition with larger luxury groups such as LVMH.
“It is a fact that consumers all over the world want to identify with brands that represent themselves. This has to be brands with quality which are exclusive,” said managing director Pierre Pringuet.
SHAREHOLDERS APPROVE POISON PILL. Also taking place at the shareholders meeting was a vote on whether or not to approve the “poison pill.” As expected, a majority of shareholders (59%) voted to approve the poison-pill measures designed to protect Pernod from any future hostile takeover bids.
The Associated Press reported that Ricard defended the anti-takeover measure by stating:
"The objective is not to avoid a takeover bid, but to make any acquisition as expensive as possible," he said.
The so-called poison pill allows companies to issue stock purchase warrants to existing shareholders at a discount, potentially deterring hostile takeovers and upping the final price. Management argues that the measure will protect ordinary investors and prevent any unexpected takeovers, although the size of Pernod makes it a less likely target for a hostile takeover.
posted at 1:44 PM
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