Pernod Ricard is reportedly set to cull a number of its assets which it views as non-core in a series of sales which will result in a 30-per-cent reduction in its product portfolio.
"The operational roadmap we launched over a year ago is one of our key business priorities. We want to grow the top line but we want to be very serious and active about operational excellence," said its managing director of finance and operation, Gilles Bogaert, according to DrinksInt.com.
“When we have brands that are not core we are not afraid to sell them. We have a large whisky portfolio and we didn’t have a focus for Paddy’s so we sold it to Sazerac."
The UK managing director of the French company, Denis O’Flynn, further clarified its position: “We have a huge portfolio and what works in one market doesn’t necessarily work in others. Trying to be all things to all men is complex.
“We are the leading product in 11 categories. If I look at the core rationalistion of the grocery sector, we have been a core beneficiary. We don’t have a one in one out policy.”
© 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.
