Drinks group Pernod Ricard, which is being targeted by activist investor Elliot,...
PARIS - Drinks group Pernod Ricard, which is being targeted by activist investor Elliot, sounded confident on Tuesday over its growth prospects in Asia including for wines such as its Jacob’s Creek brand.
The French company said growth would continue to be fueled by strong demand for its Martell cognac and Chivas whisky in China, and for its Seagram’s whiskies in India. Pernod is under pressure from U.S. hedge fund Elliott to improve profit margins and corporate governance. Australian brand Jacob’s Creek was leading the group’s wine portfolio in China, with double-digit sales growth, “which would suggest that Jacob’s Creek remains strategic to China,” Jefferies analysts noted.
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