Pernod Ricard buys majority stake in Polmos for $100m

Pernod Ricard (PR) of France will today sign a contract with the Treasury Ministry concerning the purchase of a majority stake in Polish spirits producer Polmos Poznan (PP). The transaction is worth $100 million. Among PR's aims is the promotion of PP-produced Wyborowa vodka as a top-selling spirit, for which it has already created a promotion strategy on international markets with special support in Italy and the USA. PP's staff have secured a 4-year employment guarantee with no lay-offs, as well as a 9% salary rise. Wyborowa has a 3.5% share on the Polish market, which PR plans to increase to 10% in five years. In addition, PR holds a 99% stake in Agros Trading. (Rzeczpospolita, July 14-15, p. B2, Puls Biznesu, p. 7) A.Z.