Pernod Ricard may sell Imperial Blue: report

French spirits maker Pernod Ricard is weighing the sale of its entry-level Imperial Blue whisky brand in India, Mint reported, citing three unidentified people.

The world’s second largest spirits seller is reportedly aiming to give more attention to its premium brands, including Glenlivet, Jameson and Chivas Regal, and has hired Goldman Sachs to find buyers for the brand.

Consumption of Indian whisky is growing, with Indian premium single malt whisky constituting a little more than half of the about 675,000 cases sold in India, data from the Confederation of Indian Alcoholic Beverage Companies (CIABC) showed.

Press Insider had reported how brands from indigenous whisky makers such as Piccadilly Distilleries, Amrut Distilleries, Radico Khaitan, John Distilleries, DeVANS Modern Breweries, and Mohan Meakin Ltd are gaining popularity worldwide among premium alcohol connoisseurs.

On Wednesday, the Agricultural and Processed Food Export Development Authority (APEDA) said it plans to promote both Indian alcoholic and non-alcoholic beverages globally with a target of $1 billion in export revenue over the next few years.

APEDA, as part of the ‘Make in India’ initiative, has been looking to raise the exports of Indian spirits.

India currently ranks 40th in the world for alcoholic beverage exports.

Competitors to Imperial Blue, which sells 20 million cases in India every year, include McDowell’s No. 1 from Diageo, Royal Stag from Pernod, and Officer’s Choice from Allied Blenders and Distillers.

Pernod Ricard could earn as much as ₹5,000 crore from the sale, the Mint report said.

Pernod Ricard in 2001 bought the Imperial Blue brand, which was originally owned by Canadian liquor maker The Seagram Co. Ltd.

Pernod and Diageo jointly acquired Seagram’s global spirits and wine businesses a year later.

Other brands from Seagram include Royal Stag and Blender’s Pride.