Pernod Ricard USA announces the sale of Seagram's Vodka To Young's Holdings, Inc. and its Affiliates.WHITE PLAINS, N.Y. -- 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. USA and Young's Holdings, Inc. and its Affiliates ("Young's") announced today that they have reached an agreement, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. which Young's will acquire the Seagram's Vodka brand in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , inclusive of inclusive of prep. Taking into consideration or account; including. Duty Free and all US territories and possessions. This agreement will allow Pernod Ricard USA to focus exclusively on Stolichnaya as its sole Vodka in the United States. The sale is expected to be completed by July 22. The Federal Trade Commission and Department of Justice have granted clearance allowing the transaction to proceed. Seagram's Vodka was launched by Pernod Ricard USA in October 2002 and rapidly increased sales reaching 640,000 cases in 2004 (Source: Market Watch). "The Seagram's Vodka brand has shown great potential and remarkable growth in the three years since its introduction and we are very excited to have this wonderful opportunity," said Vernon O. Underwood, Chairman of Young's. Following the introduction of Seagram's Extra Smooth Vodka, several flavored varieties were added beginning with Apple, Raspberry, and Vanilla in May 2003. "The extension of the flavored vodkas, in particular the Apple, took the brand to a new level," said Kevin Fennessey from Pernod Ricard USA. "The consumer response was well beyond our initial expectations." Seagram's Vodka has been awarded several accolades, including the prestigious Double Gold Medal at the 2003 San Francisco World Spirits Competition. It has also recently introduced two new flavored Vodka extensions, Orange and Black Cherry black cherry, n See wild cherry. black cherry prunusserotina. . Pernod Ricard USA is an American producer and distributor of fine spirits and wine. The company produces Wild Turkey(R) Bourbon, Seagram's Extra Dry Gin(R) and imports other premium brands such as Chivas Regal(R) Scotch whisky, The Glenlivet(R) Single Malt Scotch Single Malt Scotch is a type of single malt whisky, distilled by a single distillery in a pot still, using malted barley as the only grain ingredient in Scotland. As with any Scotch whisky, a Single Malt Scotch must be distilled in Scotland and matured in oak casks in Scotland for whisky, Jameson(R) Irish Whiskey, Martell(TM) Cognac, Jacob's Creek(R) and Wyndham Estate(R) wines. Young's Holdings, Inc. is a privately held holding company that distributes wine and spirits nationally through a number of subsidiaries and affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. . |
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