One Of The World’s Largest Booze Companies Is Selling Its Wine Brands

The French group owns Absolut Vodka, Jameson Whiskey and more.

One of the world’s largest booze makers is stepping out of the wine distributing industry.

Pernod Ricard is selling most of its wine brands and will instead focus on growing its champagne and premium spirits labels.

The French group owns Absolut Vodka, Jameson Whiskey and more.

The company said selling its seven wineries across the world will allow them to direct more resources to its premium spirits and champagne brands.

The deal comes after wine consumption globally hit a 27-year low last year and Pernod Ricard reported a 7% fall in sales for it’s wine brands.