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Pernod to sell Tia Maria, according to reports

15 June, 2009

Pernod Ricard is to sell its coffee liqueur brand Tia Maria, according to reports in UK newspaper the Sunday Times. The report says the brand is expected to sell for between €200-275 million.

Pernod Ricard is looking to raise funds after it paid £5.6bn for Vin & Spirit – former owner of Absolut vodka - last year.

The report follows the sale of Wild Turkey bourbon to Campari for $575m earlier this year.

Pernod Ricard has not made any formal announcement about the plans and when contacted by Drinks International, a spokesperson said: “Pernod Ricard never comments on speculation over possible acquisitions or disposal.”