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Pernod Ricard USA Sells Rich & Rare and Royal Canadian Brands to Sazerac Company
PURCHASE, N.Y., Sept. 29 -- Pernod Ricard USA and the Sazerac Company of New Orleans announced that Pernod Ricard's Rich & Rare and Royal Canadian Whisky brands will be sold to Sazerac, effective today, September 29, 2006.
Alain Barbet, President and CEO, Pernod Ricard USA, said the divestiture is consistent with the company's strategy. "We are sharply focused on the development of our premium brands. The decision to divest these two brands follows a strategic review of our portfolio."
Mark Brown, CEO, Sazerac, said, "We are delighted to have the opportunity to acquire Rich & Rare and Royal Canadian. They will comprise a very important part of our portfolio."
Terms of the transaction were not disclosed.