Pernod Ricard has signed a definitive agreement to sell Wild Turkey to Gruppo Campari for US$575m, completing almost 60 per cent of the company’s 1 billion Euro non-strategic assets disposal plan, as announced last July.

The US$575m sale price represents about 10 times the brand’s historic contribution after advertising and promotion, according to a statement from Pernod Ricard.

Pending antitrust approvals, Gruppo Campari will acquire the Wild Turkey brands, the American Honey liqueur, distillery facilities in Kentucky and related assets, as well as the aged bulk bourbon inventory.

Pernod Ricard Australia will continue to distribute the brands in the domestic market for a transitory period and the sale is expected to close in the second quarter.

Wild Turkey’s sale makes up a critical part of Pernod Ricard’s 1 billion Euro disposal plan of non-strategic assets, which was announced after they acquired Vin&Spirit (V&S) last year.

Plans are in place to complete this disposal plan within 12 months.

The Shout Team

The leading online news service for Australia's beer, wine, spirits and hospitality industries.

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