Pernod Ricard sells Mexican RTD

Pernod Ricard has sold its Caribe Cooler brand, a Mexican ready-to-drink wine cooler, to Grupo Bepensa as part of a strategy to focus on its spirits and wine brands.

Philippe Dréano, chairman and chief executive officer of Pernod Ricard Americas, said: “The sale of Caribe Cooler highlights both the strong positioning achieved by the brand on the Mexican market and the continuous efforts by Pernod Ricard to focus on its international spirits and wines brands in Mexico, led by Absolut Vodka, Chivas Regal and Ballantine’s Scotch whiskies and Martell Cognac.”

The privately-owned Grupo Bepensa is headquarted in Mexico’s Merida Yucatan and is the largest conglomerate in south east México. Details of the transaction were not disclosed, but it includes the bottling line related to the production of Caribe Cooler.

Jose Maria Casares, CEO of Grupo Bepensa, added: “We are delighted to welcome Caribe Cooler as a new business unit in our portfolio. It will complement existing business and geographical footprint adding a new highly profitable growth space.”

The closing of the transaction is subject to customary conditions, including its clearance by the Mexican Anti-Trust authorities, and is expected to complete before the the end of the fiscal year 2014/15.