Drinks giant Allied Domecq is to be taken over by the French owner of Chivas Regal whisky and Jacob’s Creek wines for £7.4bn (€10.8bn), it was announced today.
Allied is recommending a cash-plus-shares deal with Pernod Ricard – a move that will create a company to challenge market leader Diageo.
The deal involves Pernod selling a string of spirits brands such as Maker’s Mark bourbon and Courvoisier cognac to US drinks group Fortune Brands for £2.8bn (€4.1bn).