External growth

In 1975, the Group owned only 2 subsidiaries, one in Switzerland and another in Spain. Thirty-five years later, thanks to its external growth policy, the Group has become the world co-leader in wine and spirits.

35 years of successful acquisitions

• Campbell Distillers in 1975,
• Austin Nichols Ltd in 1980,
• SIAS MPA (the world’s n°1 producer of fruit preparations for the dairy industry) in 1982, sold in 2002, 
• Orangina in 1984, sold in 2001,
• Ramazotti in 1985,
• Irish Distillers in 1988,
• BWG (subsidiary of Irish Distillers, wholesale distributor) in 1988, sold in 2002
• Orlando Wyndham in 1989,
• Larios in 1997, sold in 2005,
• Agros et Yerevan Brandy Company in 1999,
• 38% of Seagram’s Wines and Spirits business in 2001,
• Allied Domecq in 2005.
• V&S in 2008
  

Seagram in 2001, Allied Domecq in 2005 and Vin&Sprit (V&S) in 2008 have proven to be 3 decisive acquisitions for the Group

Acquiring V&S: a strategic opportunity

In 2008, Pernod Ricard acquired the Swedish group V&S. This large-scale operation notably enabled Pernod Ricard to:
- acquire ABSOLUT VODKA, the world leader in premium vodkas and a renowned brand,- complete its portfolio and diversify its premium offer with Level, Aalborg Akvavit, GAMMEL DANSK, Luksusowa, Aussie, Blossa, California
- strengthen its positions in the United States and northern Europe,
- strengthen the Group’s ability to generate cash flow.

Pursuing external growth through debt reduction

Pernod Ricard is making every effort to restore its financial capacity as quickly as possible in order to continue its growth.

The Group reduced debt rapidly in 2008-2009 thanks to 3 operations:
- advances in the asset disposal programme (which will total €1 billion),
- a €1 billion capital increase in April 2009, which saw great financial market success,
- a €800 million bond issue in May 2009.