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Written by Nigel Huddleston
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Monday, 02 March 2009 |
Pernod Ricard has continued its disposal of brands following last year's Absolut acquisition, with the sale of Bisquit Cognac.
The brand has been bought by South African wine producer Distell for Euros 31 million.
The deal also includes distribution agreements covering France, Belgium, Switzerland, and Luxembourg.
Distribution arrangements in other markets will remain in place for a transitional period, Pernod Ricard said.
The deal is subject to the approval of the South African regulatory authorities.
Distell is South Africa's leading producer of wines, sprits and RTDs, with turnover in excess of Euros 700 million.
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