Press Release - Paris, 8 June 2012
Pernod Ricard (Paris:RI) announces the signing today of an agreement to acquire HiteJinro's 30% stake in Pernod Ricard Korea Imperial for a total price of KRW 70 billion (circ. EUR 48 million), to be paid in cash. Pernod Ricard currently owns 70% of Imperial and the buyout will give Pernod Ricard 100% ownership of the company, owner of the leading local whiskies in the important Korean market.
Commenting on the acquisition, Pierre Coppéré, Chairman and CEO of Pernod Ricard Asia stated, "The acquisition is in line with Pernod Ricard's business model to have full ownership, where relevant, of our brands and distribution networks. We are pleased to have come to an agreement with HiteJinro on the purchase of their minority stake in Imperial."
According to Jean-Manuel Spriet, Chairman and CEO of Pernod Ricard Korea, "This acquisition demonstrates our continued commitment in the Imperial brand and our confidence in the ability to seize opportunities in the Korean whisky market."
The transaction is expected to close on or before 15 June 2012.
About Pernod Ricard
Pernod Ricard is the world's co-leader in wines and spirits with consolidated sales of € 7,643 million in 2010/11. Created in 1975 by the merger of Ricard and Pernod, the Group has undergone sustained development, based on both organic growth and acquisitions: Seagram (2001), Allied Domecq (2005) and Vin & Sprit (2008). Pernod Ricard holds one of the most prestigious brand portfolios in the sector: ABSOLUT Vodka, Ricard pastis, Ballantine's, Chivas Regal, Royal Salute and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Kahlúa and Malibu liqueurs, Mumm and Perrier-Jouët champagnes, as well Jacob's Creek, Brancott Estate (formerly Montana), Campo Viejo and Graffigna wines. Pernod Ricard employs a workforce of nearly 18,000 people and operates through a decentralised organisation, with 6 "Brand Companies" and 70 "Market Companies" established in each key market. Pernod Ricard is strongly committed to a sustainable development policy and encourages responsible consumption. Pernod Ricard's strategy and ambition are based on 3 key values that guide its expansion: entrepreneurial spirit, mutual trust and a strong sense of ethics.
Pernod Ricard is listed on the NYSE Euronext exchange (Ticker: RI; ISIN code: FR0000120693) and is a member of the CAC 40 index.
Jean TOUBOUL, +33 (0)1 41 00 41 71
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Florence TARON, +33 (0)1 41 00 40 88
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