Pernod Ricard has sold its Wild Turkey bourbon whiskey brand to Italian drinks group Campari in a deal worth just over £390m.
The deal marks Campari’s largest acquisition to date and would cement its position as a “leading company” in the US spirits market, chief executive Bob Kunze-Concewitz said in a statement today.
“With Wild Turkey Campari adds a brand of strategic relevance to its portfolio and further enhances its premium offering,” he said.
“This acquisition is another key step in the building of a leading player in the global spirits industry. It is a unique opportunity to enter the attractive bourbon whiskey category and exploit its growth potential through a global and leading brand.”
Pernod said the sale of Wild Turkey would mean it has now completed nearly 60% of its planned €1bn disposal plan announced in July 2008.