NEW YORK (Reuters) – Pernod Ricard plans to sell its Champagne GH MUMM brand, said five sources close to the file, the French spirits group seeking to refocus on the premium brands of its portfolio.
The group works with the Rothschild & Co investment bank on this potential sale, which could arouse the interest of other spirits of spirits and drinks, said sources, which expressed themselves under the cover of anonymity because the file is not public.
The brand would only be sold if the price reached its annual turnover three times, which amounts to 200 million euros, said one of the people. The company is selective as to buyers of its assets and a sale may not happen, she warned.
“Pernod Ricard regularly assesses his strategic opportunities and constantly studies options, including the transfer or rationalization of activities,” the company said in a statement.
“This is a usual process, in accordance with the management mission, which is to bring value to shareholders, employees, customers and stakeholders.” She added that no decision concerning a particular action had been made.
Rothschild did not wish to comment.
(Written by Abigail Summerville in New York and Amy-Jo Crowley in London, with Emma Rumney; Noémie Naudin, edited by Kate Entringer)
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