Tia Maria acquired by Illva Saronno for €125m

The transaction signed and the cash consideration was paid simultaneously on July 27, 2009.

The sale of Tia Maria together with other disposals completed since the acquisition of Vin & Sprit in July 2008 enables Pernod Ricard to continue its debt reduction program having achieved disposals totalling in excess of €700 million. 

As part of the transaction: 
• Chivas Brothers Limited has been appointed to produce Tia Maria for Illva Saronno,  arrangements have been made for short term transitional distribution services to be provided by Pernod Ricard affiliates 
• some longer term distribution agreements will be entered into in certain markets
• Pernod Ricard Argentina has been appointed to produce and distribute the brand in Argentina.  

Pernod Ricard was advised in this transaction by Deutsche Bank, Rabobank, and by Macfarlanes solicitors.  

About Illva Saronno
I.L.L.V.A. Saronno Holding S.p.A. (“ILLVA”), wholly owned by the Reina family, is one of the European leaders on the spirits and wine markets. In particular, the Group manufactures and markets in more than 150 countries the world’s best selling Italian liqueur: Disaronno Originale. Other brands marketed by the group include Rabarbaro Zucca, Amaro 18, Artic Vodka (in the spirits sector) and Vini Corvo, Cantine Florio, Duca di Salaparuta (in the wine sector). 

About Pernod Ricard
Created by the merger of Pernod and Ricard in 1975, the Group has undergone sustained development,  based on both organic growth and acquisitions. The purchase of part of Seagram (2001), the acquisitions of  Allied Domecq (2005) and of Vin & Sprit (2008) have made the Group the world’s co-leader in wines and spirits with sales of € 6,589 million in 2007/08. Pernod Ricard holds one of the most prestigious brand portfolios in the sector: Absolut Premium Vodka, Ricard pastis, Ballantine’s, Chivas Regal and The  Glenlivet Scotch whiskies, Jameson Irish Whiskey, Martell cognac, Havana Club rum, Beefeater gin, Kahlúa and Malibu liqueurs, Mumm and Perrier-Jouët champagnes, as well Jacob’s Creek and Montana wines.

July 09

1 July 2009 - Felicity Murray