Pernod Ricard last night agreed to sell its Domecq brandy and sherry business to a company part-owned by Emperador Inc of the Philippines. to sharpen its focus “on larger brands such as Absolut vodka and Chivas Regal”.
Pernod will sell the unit to Bodega Las Copas, a joint venture owned by Emperador and the Spanish winery Gonzalez Byass, for an undisclosed price. the Paris-based company said in a statement late Thursday. Domecq’s portfolio includes Mexican brandies such as Don Pedro, Presidente and Azteca de Oro, as well as its famous sherries.