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09.2009

Massachusetts Beverage Business

archivedAtPressTime

TIA MARIA SOLD to ILLVA SARONNO

Pernod Ricard has completed the sale of Tia Maria coffee liqueur to Illva Saronno for a cash consideration of €125 million (US$177.77 million) on a cash free/debt free basis. As part of the transaction: Chivas Brothers Limited has been appointed to produce Tia Maria for Illva Saronno; Arrangements have been made for short term transitional distribution services to be provided by Pernod Ricard affiliates; Some longer term distribution agreements will be entered into in certain markets; Pernod Ricard Argentina has been appointed to produce and distribute the brand in Argentina. Illva manufactures and markets Disaronno Originale in more than 15O countries.

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