Pernod Ricard is to sell a number of Swedish and Danish assets to Altia for a cash consideration of SEK 835 million, or €82 million at current exchange rate.
The transaction includes a number of local wine and spirits brands, including Explorer vodka, Lord Calvert whisky, 1 Enkelt bitter, Blossa glögg and Chill Out wines. The deal also includes a bottling facility located in Svendborg, Denmark and two logistic centres located in Odense, Denmark and Årsta, Sweden.
Related long-term production, bottling and logistic services agreements between Pernod Ricard Sweden, Pernod Ricard Denmark and Altia have also been concluded.
The transaction is subject to customary regulatory approvals, including that of the Swedish competition authorities.
This transaction brings Pernod Ricard closer to the achievement of its €1billion disposal plan (approximately €0.8 billion achieved to date).
Pernod Ricard was advised in this transaction by SEB-Enskilda and Gernandt & Danielsson.