Pernod Ricard Weighs Sale of Wall Street Whisky
(Bloomberg) -- Pernod Ricard SA is weighing the sale of its Wall Street and Natu Nobilis whiskies, two brands that are popular in Brazil, according to people familiar with the situation.
The drinks, both produced in Latin America, are being considered for disposal as the world’s second-largest distiller seeks to reorient investment to faster-growing products, said the people, who asked not be named discussing private information.
Earlier this week, Pernod Ricard Chief Executive Officer Alexandre Ricard said that the company remains committed to “dynamic management” of its roster of brands through acquisitions or disposals. In recent years, it’s sold the Glenallachie distillery in Scotland and the Domecq brandies while acquiring more profitable small-batch brands such as Del Maguey mezcal and Monkey 47 gin.
A spokesman for Pernod Ricard declined to comment on the potential sale.
Discussions about selling the Wall Street and Natu Nobilis brands are at an early stage and the company may still decide against a sale, the people said.
Pernod Ricard trails only Diageo Plc in revenue among global distillers.
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