Pernod Ricard reports ‘moderate’ Q1 sales

French drinks group Pernod Ricard has reported a “moderate” organic sales growth of 1.3% for the first quarter of fiscal 2020, boosted by the US and China. During the quarter, sales hit €2.438 billion (US$2.7bn), which were “in line with expectations” after a “very high basis of comparison” during Q1 2019 when sales grew 10.4%. Pernod Ricard, the owner of Absolut vodka and Jameson Irish whiskey, confirmed its estimated profit growth for the full fiscal…

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Irish Distillers unveils Midleton Very Rare 2019

Irish Distillers has revealed the 2019 edition in its Midleton Very Rare Irish whiskey collection – the 36th iteration in the series. Midleton Very Rare 2019 combines single pot still and single grain Irish whiskeys selected by master distiller Brian Nation. Each cask has been matured exclusively in lightly charred ex-Bourbon American oak barrels for between 13 and 34 years ­­– marking the oldest casks used to create a Midleton Very Rare expression. “Each year,…

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Analysis: The impact of Diageo’s first steps into Cuban rum

With Diageo now tied into a joint venture with government-controlled Corporación Cuba Ron to distribute Santiago de Cuba rum, what will this mean for rival Pernod Ricard and the rest of the rum category? It’s been 26 years since state‐run Corporación Cuba Ron entered into a joint venture with French firm Pernod Ricard to distribute the Havana Club rum brand internationally. The group controls the brand in all international markets apart from the US, where…

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Pernod finalises Castle Brands acquisition

Absolut owner Pernod Ricard has completed its acquisition of US spirits firm Castle Brands, taking an 89.52% stake in the company. The purchase, which was announced in August, saw Pernod Ricard buy a total of 150,335,952 shares of common stock from Castle Brands, each valued at US$1.27. Carried out through a subsidiary of Pernod Ricard, the acquisition will see Pernod Ricard take control of the Jefferson’s Bourbon brand, Goslings rum, Knappogue Castle Irish whiskey and…

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Pernod CEO: Headwinds can be ‘sources of opportunity’

The spirits industry will always be faced with challenges but if companies are diverse enough they will be able to “leverage these as sources of opportunity”, the CEO of Pernod Ricard has said. Speaking to The Spirits Business during the TFWA World Exhibition & Conference in Cannes, France, last week, Alxandre Ricard, Pernod Ricard CEO, commented on challenges facing the spirits industry in travel retail at the moment. When asked about Brexit, Ricard noted the…

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