Pernod Ricard USA has sold its Canadian Rich & Rare and Royal Canadian Whisky brands to New Orleans-based drinks group Sazerac Company for an undisclosed sum.

Alain Barbet, president and CEO of Pernod Ricard USA said: “We are sharply focused on the development of our premium brands. The decision to divest these two brands follows a strategic review of our portfolio.”

Marc Brown, CEO of Sazerac, added: “We are delighted to have the opportunity to acquire Rich & Rare and Royal Canadian. They will comprise a very important part of our portfolio.”