Pernod Ricard announced last week that it has sold its Domecq brandy line, as well as its product portfolio of wines and brandies, to Spanish company Bodega Las Copas.
This spells the end of the drinks company's hold over Mexican brandies Don Pedro, Presidente and Azteca de Oro, as well as its winery in Ensenada.
Bodega Las Copas is a joint venture of Grupo Emperador Spain and González Byass. Each group has a 50% hold of the initiative, which includes relevant inventories in countries such as Spain, the US, Belgium and The Netherlands.
Pernod says its decision to offload Domecq reflected the strategy to ‘simplify its portfolio for growth and focus on its priority spirits and wines brands.’
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. To subscribe to ESM: The European Supermarket Magazine, click here.
