Pernod Ricard announced today the signing of an agreement to sell Domecq brandies and wines to Bodega Las Copas.
The transaction includes the brand portfolio of Mexican brandies Don Pedro, Presidente and Azteca de Oro, as well as the winery related to the production of Mexican wines in Ensenada, together with the relevant inventories related to the Domecq brands in several markets, including Spain, United States, Belgium and the Netherlands, among others.
The disposal is in line with Pernod Ricard’s strategy to “simplify its portfolio for growth and focus on its priority spirits and wines brands,” the company said in a press release.
Bodega Las Copas is a a 50/50 joint-venture held by Grupo Emperador Spain and by González Byass. Bodega Las Copas sees the purchase as reinforcing its presence in the global brandy category, according to a statement.
The closing of the transaction is subject to customary conditions, including its clearance by the Mexican Anti-Trust authorities, and is expected to take place before the end of the fiscal year 2016/2017.