Pernod Ricard, which is being targeted by activist investor Elliott, plans to bu...
PARIS - Pernod Ricard, which is being targeted by activist investor Elliott, plans to buy super premium Italian gin brand Malfy from Biggar & Leith, as it further strengthens its fast-growing portfolio of so-called ‘craft’ spirits.
Pernod’s latest takeover comes as the company, which is the world’s second-largest spirits group behind Diageo, faces pressure from U.S. hedge fund Elliott Management to improve profit margins and corporate governance. Malfy is a range of super-premium flavored gin distilled by the Vergnano family in the Italian region of Moncalieri in Piedmont, and sold in the United States, Britain and Germany.
“In line with the launch of our “transform and Accelerate” strategic plan, we will continue actively managing our fantastic portfolio of brands,” added Porta.
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