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Pernod ties up Stoli

Published:  23 July, 2008

Pernod Ricard has successfully negotiated with the SPI Group to gain the worldwide distribution rights for Stolichnaya vodka (previously held by merger partner Allied Domecq). It has also intimated that it may buy the brand in the future.

Pernod has built on Allied's distribution rights, and now

it has first refusal both for the renewal of the distribution deal and the purchase of the brand if SPI decides to sell. Pernod

has paid SPI e100 million as part of the agreement (a significant part of which would be repaid if SPI sells).

Pierre Pringuet, joint director general of Pernod, commented: Stolichnaya represents an opportunity for the group to enter the premium vodka market and seize its strong growth.'