Global drinks giant Pernod Ricard today announced that it would launch an operation to raise €1 billion of capital as soon as possible to reduce debt.
The group also announced the sale of its Wild Turkey bourbon brand to Italian group Campari for €433m. It said that this sale means that it now has achieved 60% of its plan to raise €1 billion by selling strategic assets, announced in July after it had acquired the Swedish group Vin & Spirit.
Campari said that this was the biggest takeover in its history and was intended to push the group further into international markets. Under the deal, to be settled in cash, Campari also acquires the spirits drink American Honey and distilleries in the US southern state of Kentucky.
