Pernod Ricard Sells Off Some Brands

Alcohol major Pernod Ricard has agreed to sell several of its brands in order to full conditions laid down by the European Commission, related to its acquisition of Vin & Sprit.

 The company said it will sell its
Gronstedts Cognac, Star Gin, Red Port and Dry Anis brands to Norway's
Arcus Gruppen, which is 83% owned by Swedish investment company
Ratos. No financial details of the deal were given. Pernod said the
deal is expected to be completed in early 2009, pending approval from
competition authorities.