Pernod Ricard has offloaded another non-core spirits brand, this time in Finland.
Peppermint-flavoured liqueur Minttu will head to new owner Hartwall in the coming months, Pernod Ricard confirmed today. Hartwall, which is owned by Royal Unibrew, will pay an unspecified sum for a “local portfolio” of brands that includes the Lapponia liqueur stable, several Finnish berry and fruit wines and a line of glögi brands.
Along with Minttu, which carries an ABV of 40% and has a shot-consumption positioning in the country, the suite of assets includes the brand’s production facilities in the city of Turku on Finland’s south-west coast.
“This transaction will enable Pernod Ricard to focus its resources behind its portfolio of premium international spirits and champagne brands that drive the growth of its business, in line with its premiumisation strategy,” the company said. “The sale is the result of Pernod Ricard’s continuous assessment of its strategic opportunities and active portfolio management … .”
The divestment, which should close by the end of June next year “at the latest”, follows Pernod Ricard’s sell-offs of Clan Campbell blended scotch to Stock Spirits Group in June 2023, Czech bitters Becherovka to Maspex in December and, more recently, Red Heart rum to KWV in South Africa two months ago.
The group also found a buyer – finally – for almost all of its wine assets in July, with Accolade Wines taking on the likes of Brancott Estate, Campo Viejo and Jacob’s Creek.
Also this week, Pernod Ricard booked a near-6% decline in sales from the three months to the end of September.
