Pernod Ricard SA is exploring a sale of Czech liqueur brand Becherovka, people with knowledge of the matter said, as the French spirits maker considers ways to streamline its portfolio.
(Bloomberg) — Pernod Ricard SA is exploring a sale of Czech liqueur brand Becherovka, people with knowledge of the matter said, as the French spirits maker considers ways to streamline its portfolio.
Paris-based Pernod is working with Centerview Partners LLC as it seeks to gauge buyer interest in Becherovka, according to the people. The asset could be valued at about $300 million or more in any sale, the people said. It’s likely to draw interest from international drinks companies, they said.
Becherovka is a herbal liqueur that has been produced in the spa town of Karlovy Vary in the west of the Czech Republic for more than 200 years. It was acquired by Pernod in 1997.
Deliberations are ongoing and there’s no certainty they will result in a transaction, the people said. Representatives for Pernod and Centerview declined to comment.
A potential sale comes as Pernod looks at possible divestments elsewhere its portfolio of more than 240 brands. The company is also exploring a sale of wines including Australia’s Jacob’s Creek, a person with knowledge of the matter said in September. The company said at the time that it regularly assesses and evaluates strategic opportunities.
Pernod Chief Executive Officer Alexandre Ricard said in August that the company had seen demand for premium booze fall in the US and China over the summer. Pernod plans to buy back between €500 million ($525 million) and €800 million worth of its shares in 2024.
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