Pernod Ricard forced to sell Grönstedt to Altia, instead of Arcus

Even though Pernod Ricard agreed to sell three brands to Arcus, competition concerns have forced the company to remove Grönstedt from the deal and sell it to Altia instead.

The European Commisssion has granted the disposal of Star Gin, Red Port and Dry Anis, and the transaction relating to these three brands, however claimed that competition concerns would not allow Pernod Ricard to sell Grönstedt to Arcus. The reason behind this decision is that Arcus's own cognac brand Braastad is very strong at the moment in Sweden. As a result, the acquisition arrangements of Grönstedts by Arcus Gruppen AS were terminated, and Pernod Ricard signed an agreement with the Finnish group Altia for the acquisition of Grönstedts Cognac. This new transaction is still subject to approval by the European Commission.