French drinks giant Pernod Ricard has sold three of its Scotch whisky brands to Italian firm Campari.
Pernod, which took over the UK's Allied Domeq earlier this year [WAMN: 6-Jul-05] to become the world's number two drinks marketer after Diageo, is shedding its Glen Grant, Old Smuggler and Braemar brands in a €130 million ($154m; £89m) deal.
Campari will also take control of the Glen Grant distillery in Scotland under the terms of the agreement, which still needs European Union regulatory approval.
Comments Campari ceo Enzo Visone: "We are proud to have concluded another important deal that not only enables us to strengthen our position in the spirits segment further, but also to mark our entrance into the key Scotch whisky segment."
Data sourced from BBC Online; additional content by WARC staff