Investing.com -- Pernod Ricard (EPA:PERP), the French spirits company known for Absolut Vodka and Jameson Irish whiskey, is reportedly considering the sale of its champagne brand G.H. Mumm. This strategy aligns with the company’s focus on premium labels in its portfolio, according to a Friday report by Reuters.
The company is working with investment bank Rothschild & Co to explore potential divestiture opportunities. This move is expected to pique the interest of other spirits and beverage companies.
G.H. Mumm, a renowned champagne brand, has an estimated annual sales figure of 200 million euros ($207 million). It is anticipated that the brand will not be sold for less than three times this amount. However, the company is known to be selective in its asset sales, which means a sale may not necessarily occur.
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