Agros Group -Pernod Ricard- Sells Fruit and Vegetable Division.Business Editors WARSAW, Poland--(BUSINESS WIRE)--Sept. 19, 2002 Pernod Ricard Pernod Ricard (Euronext: RI) is a French company producing alcoholic beverages. Their most famous product, Pernod Anise (40% alcoholic volume) and Ricard Pastis, are both pastis, and often referred to as simply Ricard or Pernod. is completing its drive to refocus Verb 1. refocus - focus once again; The physicist refocused the light beam" focus - cause to converge on or toward a central point; "Focus the light on this image" 2. on its core spirits and wine business in Poland. The group has sold the Agros Fortuna branch of its subsidiary Agros Holding to Entreprise Investors, an investment fund. Agros Fortuna's main products are Fortuna fruit juices, Lowicz jams and Krakus canned vegetables. The branch has sales of some 140 million Euros (US$137.9 million) and employs 1,500 people, all of whom will be re-hired by the purchaser. The selling price of 54 million Euros (US$53.2 million) is equivalent to the enterprise value of Agros Fortuna. Pernod Ricard's sole business in Poland is now spirits and wine. The operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. Wyborowa SA produces the group's wodkas(*) and distributes its international product range on Poland's domestic market. Commenting on the recent dismissal by the Polish parliament, the Diet, of an amendment to the law on spirits that challenged the ownership of the Wyborowa brand, Yves Flaissier, chairman of Wyborowa SA said: "As Poland prepares to join the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community , this outcome demonstrates its maturity as regards trademark protection and the safeguarding of foreign investments." Mr Flaissier added: "Our strategy aims to develop Wyborowa worldwide by stressing its authenticity as a genuine Polish wodka." (*)Polish triple-distilled vodka vodka (vŏd`kə), traditional spirituous drink of Russia, the Baltic states, and Poland; it is now consumed internationally. The best vodka is distilled from rye and barley malt, but the cheaper corn and potatoes are commonly employed. made exclusively from rye rye, in botany rye, cereal grain of the family Gramineae (grass family). The grain, Secale cereale, is important chiefly in Central and N Europe. grain For more information about Pernod Ricard, please visit our website: www.pernod-ricard.com |
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