Pernod completes Allied Domecq acquisition

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The drinks company becomes the world's second-largest wines and spirits supplier after the landmark acquisition

Pernod Ricard chairman and CEO Patrick Ricard said: "This transaction represents a remarkable opportunity that enables us to become the world's number two wines and spirits operator. We shall now be able to swiftly carry out the task of integrating the teams and brands in accordance with our decentralised organisation mode."

Following the deal, Pernod Ricard represents a volume of 77m cases of liquor and 18m cases of wine annually. The combined group achieved net sales of €5.6bn ($6.75bn) in 2004, with an EBITDA of €1.5bn ($1.81bn).

Pernod Ricard's portfolio now includes 14 key brands: Ricard, Ballantines, Chivas Regal, Kahlúa, Malibu, Beefeater, Havana Club, Stolichnaya (US distribution), Jameson, Martell, The Glenlivet, Jacob's Creek, Mumm and Perrier-Jouët.

See DFNI August 1 for more comment and reaction.