Pernod to sell BWG to Electra

12 April 2012

DRINKS giant Pernod Ricard is days away from selling its British and Irish wholesaler BWG to venture capitalist Electra Partners for around e220m (£140m), the London Evening Stard's Business Day section has learned.

The wholesaler also owns the Bargain Booze off licences chain in Britain, Spar convenience stores in the South-West of England and Eire as well as Mace in Northern Ireland.

BWG was one of several businesses Pernod Ricard decided was no longer core after it teamed up with Diageo to buy Seagram's drinks businesses in a £5.6bnn carve-up last year. It inherited BWG with the 1988 takeover of Irish Distillers, which had bought the operation in 1984.

Pernod Ricard has sold a host of divisions and brands recently, ranging from Orangina to its SIAS fruit preparation unit. Talks are progressing on selling White Satin gin and VAT 19 rum.

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