Pernod Ricard has completed the sale of Domecq brandies and wines to Bodega Las Copas, a joint venture between Emperador Group and González Byass, for €81m.
The sale includes Pernod Ricard’s portfolio of brandies including Don Pedro, Presidente and Azteca de Oro and all related Domecq stock in markets including Spain, the US, Belgium and the Netherlands.
Pernod Ricard has also sold its Ensenada winery in Mexico, which is considered to be the first commercial winery in Baja’s Valle de Guadalupe.
The brands in the wine portfolio include Calafia, Padre Xino and the premium X-A brand.
The sale was first announced last December and Pernod Ricard cited that the disposal is in line with its strategy to simplify its growth and to devote its attention to its primary spirits and wine brands such as Absolut Vodka, Chivas Regal Scotch and wines.
The acquisition allows Bodega Las Copas to have a larger share in the Mexican spirits markets and expand its global brandy category.
Last year, when the sale was reported, Bloomberg noted that Pernod Ricard is disposing away brands such as Paddy whiskey and Fris Vodka, which do not form the central brands to its business. By doing so, the company is making way for fast-growing liquors including gins.
Emperador Group is one of the largest brandy-makers in Asia and is a market leader in Philippines. The company also has a presence in over 100 countries across South-East Asia and Europe.
Emperador Group acquired Whyte & Mackay from United Spirits for £430m in 2014.
González Byass is a family winery found in 1835 in Jerez, Spain. The company is known for making quality wines and spirits. Some of its well known brands include Tío Pepe Fino, wine treasures such as Noé, Apóstoles and the Brandy Solera Gran Reserva Lepanto.
