Pernod Ricard Buys 30% Stake in Korean Unit for EUR48 Million
06/08/2012| 03:19am US/Eastern
By Inti Landauro
PARIS--French alcoholic beverage group Pernod Ricard (>> PERNOD RICARD) said Friday it has agreed to buy the remaining 30% in its South Korean unit Pernod Ricard Korea Imperial, which owns the main local whiskey brands, held by Korean group HiteJinro for EUR48 million.
Through this operation, Pernod Ricard will hold 100% in the Korean unit, the company said in a statement.
The acquisition is part of Pernod Ricard's strategy to secure full ownership of its brands and distribution networks, the company said in the statement.
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