The South African division of Pernod Ricard has agreed the divestment of local rum brand Red Heart to KWV.
The transaction, for an undisclosed sum, is the latest in a line of “non-core” brand offloads by the group. Red Heart, which according to a spokesperson is a “very local” seller, will join the likes of Cruxland gin, Ponchos tequila and Wild Africa cream liqueur on KWV’s books.
Red Heart, which is available in original and spiced versions in South Africa, joins Clan Campbell blended scotch and Czech bitters Becherovka in having a new owner. Stock Spirits took on Clan Campbell from Pernod Ricard just over a year ago, while Polish conglomerate Maspex acquired Becherovka in December.
Also set to leave the Paris-headquartered group’s roster is the bulk of its wine businesses after the owner of Accolade Wines agreed a deal to buy brands including Brancott Estate, Campo Viejo and Jacob’s Creek last month.
KWV, which is a mainstay of the South African wine industry, celebrated its centenary in 2018.
Pernod Ricard will report its fiscal 2024 results – to the end of June – next week.
