Pernod Ricard sells Danish and German brands for €103m

The transaction also includes the disposal of the Aalborg production plant in Denmark.

Bottoms up: Pernod Ricard is one of the most prestigious names in wine. Credit: Getty Images

As part of its strategy to focus on its priority brands, the French wines and spirits group Pernod Ricard has agreed to sell off the Danish brands Aalborg and Brøndums, the German brand Malteserkreuz Aquavit and the Danish bitter Gammel Dansk to Norway's Arcus-Gruppen for a cash consideration of €103m. The transaction also includes the disposal of the Aalborg production plant in Denmark.

The closing of the transaction, subject to approval by competition authorities, is expected to be completed by the third quarter of the fiscal year 2012-2013.

BNP Paribas, Horten and Gide Loyrette Nouel advised Pernod Ricard.

Arcus-Gruppen is a Norwegian wine and spirits group that employs 470 people and generates an annual turnover of approximately NOK2bn. The group has already acquired Pernod Ricard’s Star Gin, Red Port and Dry Anis brands.