Pernod Ricard to divest Nordic Brands to Hartwall in strategic focus on premium spirits
FRANCE – Pernod Ricard, the French beverage giant, has agreed to sell a collection of its Nordic brands, including the popular Finnish liqueur Minttu, to Hartwall, a Royal Unibrew-owned Finnish beverage company.
While the financial details of the transaction have not been disclosed, the portfolio also includes Lapponia, another Finnish liqueur, Swedish punch brand Cederlunds Torr, unflavoured spirit Tapio, and Marinella fruit wine.
Most of the brands involved in the deal were acquired by Pernod Ricard in 2008 when the company bought Vin & Sprit, the parent company of Absolut Vodka.
Following the transaction, Hartwall will take control of the brands as well as their production assets.
According to the company, the brands are produced at a “carbon-neutral” facility in Turku, Finland, where the entire portfolio will remain post-acquisition.
Pernod Ricard explained that this divestment is part of its strategic focus on strengthening its core business, which includes premium international spirits and Champagne brands.
The decision aligns with the company’s broader goal of actively managing its portfolio to concentrate on growth-driving products.
The transaction is expected to be completed by June 2025, pending approval from local competition authorities.
Kalle Järvinen, CEO of Hartwall, highlighted the importance of the deal in further strengthening Hartwall’s position in the wine and spirits market.
He noted that, “Hartwall has solidified its place as Finland’s largest wine importer in recent years. Adding iconic beverage brands like these enhances our ability to serve customers as a comprehensive beverage provider.”
Hartwall, headquartered in Helsinki, produces a range of beverages, including Jaffa soft drinks, Novelle flavored waters, and local craft beers.
The company also manages a significant wine import business and distributes brands for international beverage leaders such as Heineken and PepsiCo in Finland.
This move follows Pernod Ricard’s release of its first-quarter financial results, which saw a 5.9 percent organic decline in net sales and an 8.5 percent drop on a reported basis, totaling €2.78 billion (US$3 billion).
The decline was largely due to weakened consumer demand in China and ongoing challenges in the U.S., where retailers have reduced orders for premium spirits.
Despite these setbacks, Pernod Ricard remains optimistic about its long-term performance, reaffirming its goal of achieving organic net sales growth of 4-7 percent and improving operating margins in the year ahead.
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