(Bloomberg) -- Pernod Ricard SA is selling its local Nordic liqueur and spirits brands to a subsidiary of Danish group Royal Unibrew A/S, the latest asset disposal for the French distiller.
Oy Hartwall Ab is buying the brands, which include Minttu, a liqueur made in Finland, as well as Lapponia liqueurs and a number of berry and fruit wine labels. Terms of the sale weren’t disclosed.
Paris-based Pernod, which owns Absolut Vodka and Martell Cognac, is disposing of local and niche brands to focus on premium and international liquor products, as well as expensive Champagnes. The company is grappling with a slump in demand for pricey spirits in its two largest markets, China and the US.
It acquired Minttu and other Nordic brands as part of a €5.7 billion ($6.2 billion) acquisition in 2008 of V&S Vin & Sprit AB, the owner of Absolut.
In July, Pernod confirmed a sale of its international wine portfolio, which includes Jacob’s Creek of Australia, New Zealand’s Stoneleigh, and Campo Viejo from Spain, to a consortium of international investors. It sold a Czech liqueur brand called Becherovka in a deal announced in December.
Pernod reported a worse-than-expected drop in sales earlier Thursday. It’s also facing tariffs on Cognac and French brandy imported to China in retaliation for European Union duties on Chinese EVs.
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