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Business Wire
7 days ago
- Business
- Business Wire
Pernod Ricard India to Sell Its Imperial Blue Business Division to Tilaknagar Industries
PARIS--(BUSINESS WIRE)--Regulatory News: Pernod Ricard (Paris:RI) is pleased to announce the signing by Pernod Ricard India Private Limited (Pernod Ricard India) of a definitive agreement to sell its Imperial Blue business division to Tilaknagar Industries Ltd (TI), a leading player in the spirits market in India. This sale strengthens Pernod Ricard India's portfolio, enabling the business to fully tap into premiumization trends and support sustained, profitable growth. As Pernod Ricard's second-largest market, India is a strategic priority, and this realignment improves the ability to capitalize on the country's strong macroeconomic fundamentals and long-term potential. Upon closing, the transaction is expected to be immediately and meaningfully accretive to Pernod Ricard India's operating margin and net sales growth rate. Pernod Ricard's active portfolio management is a key contributor to its dynamic growth across categories and geographies. The transaction is the result of the Group's continuous assessment of its strategic opportunities, in line with its long-standing commitment to deliver sustainable value to its shareholders, employees, clients and partners. Alexandre Ricard, Chairman and CEO of Pernod Ricard, stated: 'We are pleased to announce the sale of the Imperial Blue business division, a strategic move to sharpen our focus on more profitable and faster growing brands in India, like in the rest of the world. This transaction represents a win-win for all stakeholders involved, both at the global and local level. It fuels our ambition to succeed even further in one of our top markets. This will further streamline our operations as we continue to invest in India's outstanding growth.' Jean Touboul, CEO of Pernod Ricard India added: 'By exiting the Admix Value segment, this disposal will allow Pernod Ricard India to unlock further profitable growth and sharpen its focus on premiumization and innovation. It will also enable the company to allocate resources more effectively toward high-growth brands such as Royal Stag, which has already surpassed the 30-million cases milestone, Blenders Pride, and international brands like Chivas, Jameson, Absolut, and Ballantine's. Driving the next phase of growth, we are entering an exciting new chapter, one that will see bold innovations and an expanded premium portfolio tailored specifically for the evolving Indian consumer.' The transaction remains subject to the approval from the Competition Commission of India, and closing is expected to occur within the coming months. About Pernod Ricard Pernod Ricard is a worldwide leader in the spirits and wine industry, blending traditional craftsmanship, state-of-the-art brand development, and global distribution technologies. Our prestigious portfolio of premium to luxury brands includes Absolut vodka, Ricard pastis, Ballantine's, Chivas Regal, Royal Salute, and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur and Mumm and Perrier-Jouët champagnes. Our mission is to ensure the long-term growth of our brands with full respect for people and the environment, while empowering our employees around the world to be ambassadors of our purposeful, inclusive and responsible culture of authentic conviviality. Pernod Ricard's consolidated sales amounted to € 11 598 million in fiscal year FY24. Pernod Ricard is listed on Euronext (Ticker: RI; ISIN Code: FR0000120693) and is part of the CAC 40 and Eurostoxx 50 indices. About Tilaknagar Industries Limited Tilaknagar Industries is one of India's leading alcoholic beverage companies, with a rich legacy spanning over 90 years. Founded in 1933 by Shri Mahadev L. Dahanukar as Maharashtra Sugar Mills, TI has, over the years, transformed into a major player in the India Made Foreign Liquor ('IMFL') industry having a manufacturing footprint of 21 units across 12 states. TI's brand portfolio straddles multiple categories, featuring two 'Millionaire' brandy brands – Mansion House and Courrier Napoleon – along with a strong presence in whisky, rum, and gin through Mansion House Whisky, Madiraa Rum and Blue Lagoon Gin. Recently, TI has expanded into the luxury segment with Monarch Legacy Edition Brandy
Time of India
08-07-2025
- Time of India
NDPL smuggling causes Rs 300 crore revenue loss to Telangana Exchequer
HYDERABAD: A thriving underground network of non-duty paid liquor (NDPL) smugglers is working in tandem with private event organisers, causing an estimated ₹300 crore annual loss to the state exchequer. A recent crackdown by the excise department has unravelled the scale, sophistication, and spread of this illegal trade, particularly within the GHMC limits. In the past three weeks alone, excise officials have stumbled upon multiple NDPL smuggling routes, primarily from Haryana, Goa, and Karnataka, where liquor taxes are significantly lower than in Telangana. Liquor meant exclusively for defence canteens and even customs duty-free bottles meant for inbound air passengers are being illegally diverted to high-paying clientele, often through private parties and event circuits in Hyderabad. On June 21, Patancheru excise officials intercepted a Mahindra XUV with a UP registration plate and seized 408 bottles of premium whisky brands-Chivas Regal, Black Label, Red Label, and Jameson. The vehicle was operated by two Hyderabad-based men, A Tikiya Naik and S Naveen Kumar, who admitted to sourcing the liquor from a wholesale store in Faridabad, Haryana, for ₹5 lakh. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad "The liquor was being brought in SUVs purchased cheaply in the national capital region. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Are you 18-79 with no funeral insurance? Talk to NZ Seniors today NZ Seniors Get Quote Undo The same vehicle, once used for smuggling, is later sold for profit in Hyderabad. With tax differences, liquor worth ₹5 lakh in Haryana fetches ₹15 lakh here. From a single run, they make over ₹10 lakh," said excise inspector Parameshwar Goud. On June 17, two ex-servicemen, Purushotham from Yapral and Siddaiah from Kowkoor, were caught at Malkajgiri with 37 bottles worth ₹75,000 sourced from a Ballari (Karnataka) defence canteen. A week earlier, 115 bottles of defence quota liquor worth ₹2.3 lakh were seized in Serilingampally. In most cases, the liquor was purchased in Karnataka, where defence canteen prices are much lower. "For instance, a Teacher's whisky bottle costs ₹800 in a Karnataka canteen, ₹1,600 in Telangana's defence outlet, and ₹2,200 in a retail store. The margins make smuggling highly profitable," explained an excise official. Smugglers are also ferrying high-end foreign liquor like Royal Salute, which costs ₹14,000 in Haryana but sells for ₹26,000 in Telangana, sometimes via trains or courier services. In Dec 2024, the excise department busted a customs duty-free liquor racket involving a police constable at RGIA, a home guard, two techies and others. The gang allegedly procured 41 bottles worth ₹15 lakh-mostly Royal Salute and Gold Label-using the passport and ticket copies of Gulf returnees in collusion with a duty-free shop worker at Hyderabad airport.
Business Wire
04-07-2025
- Business
- Business Wire
A Response from Pernod Ricard in Relation to the Conclusion of China's MOFCOM Cognac Anti-Dumping Investigation
PARIS--(BUSINESS WIRE)--Regulatory News: Pernod Ricard (Paris:RI) welcomes the conclusion of China's MOFCOM Cognac Anti-Dumping investigation and agrees to a minimum price undertaking. This agreement does not constitute an acknowledgment of dumping practices. Pernod Ricard regrets the increase in the cost of operating in China but notes that the additional costs arising from the agreed minimum price undertaking are significantly less than would be the case if the provisional Anti-Dumping tariffs had been made permanent. As this process concludes, Pernod Ricard remains committed to long term sustainable growth in China, one of our four Must Win markets, leveraging its market leading position in Cognac, and in International Spirits, that it has successfully built over its decades long engagement in the country. About Pernod Ricard Pernod Ricard is a worldwide leader in the spirits and wine industry, blending traditional craftsmanship, state-of-the-art brand development, and global distribution technologies. Our prestigious portfolio of premium to luxury brands includes Absolut vodka, Ricard pastis, Ballantine's, Chivas Regal, Royal Salute, and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur and Mumm and Perrier-Jouët champagnes. Our mission is to ensure the long-term growth of our brands with full respect for people and the environment, while empowering our employees around the world to be ambassadors of our purposeful, inclusive and responsible culture of authentic conviviality. Pernod Ricard's consolidated sales amounted to € 11 598 million in fiscal year FY24. Pernod Ricard is listed on Euronext (Ticker: RI; ISIN Code: FR0000120693) and is part of the CAC 40 and Eurostoxx 50 indices.
Otago Daily Times
25-06-2025
- General
- Otago Daily Times
Parliament resumes
Governor-General Sir Charles Fergusson takes the salute at the opening of Parliament. — Otago Witness, 7.7.1925 COPIES OF PHOTO ARE AVAILABLE FROM ODT FRONT OFFICE, LOWER STUART ST, OR Wellington, June 25: The fourth session of the twenty-first Parliament of New Zealand was opened to-day with the usual ceremonial. As the Governor-General left his house a Royal salute was fired from the guns at Point Jerningham. On his arrival at Parliament Buildings, where his Excellency was received by the officers of the staff of the 1st Wellington Battalion, the band played the Anthem and the Royal Salute was given by the guard of honour, consisting of 100 men from the Corps of Signals under Major R.M. Aldred and Lieutenant N.S. Plank. The galleries in the Legislative Council were crowded with men and women eager to witness the arrival of the Governor-General. The women greatly predominated in numbers, and in one of the galleries there were three little girls who seemed to take a special interest in the proceedings. They were the three eldest daughters of the Prime Minister and Mrs Coates. Members of the Council assembled in due course to await the coming of his Excellency. Lady Alice Fergusson, attended by two of the staff from Government House, was escorted by Mr Basil Stocker, the Acting Clerk of the Legislative Council, to a seat on the floor of the chamber near the Speaker's chair. Then after a brief interval the usher of the Black Rod, Mr Bothamley, wearing his gown and carrying the wand of office, appeared through the main entrance and announced: "His Excellency the Governor-General." Then all the councillors rose, as did also the people in the gallery. "Honourable gentlemen, please he seated," said his Excellency, whereupon the councillors resumed their seats. The naval and military officers who accompanied his Excellency grouped themselves at the head of the chamber. Then followed a pause until the Commoners, who had been summoned to attend in "another place" arrived, headed by their Speaker (the Hon Mr Statham), who was attended by the Clerk of the House, Mr W.E. Kane, and the Sergeant-at-Arms, carrying the mace. At the head of the members of the House of Representatives came Mr Coates, the new Prime Minister, spic and span in morning dress, and the youngest Prime Minister New Zealand has seen for many a long year. There were many present who missed the burly form of their late Prime Minister, who, on so many occasions, had been so conspicuous a figure at such ceremonials. The Governor-General read "The Speech" in clear and measured tones, every word being distinctly audible. After his departure the members of the House of Representatives hastened back to their own premises where presently they were engaged in the usual bombardment with petitions and questions and notices of motion. Senior seen off The esteem in which Senior-sergeant Mathieson is held in Dunedin was conclusively demonstrated yesterday afternoon, when a large number of businessmen assembled in the Grand Hotel to bid farewell to him prior to his departure for Ashburton, to which district he has been transferred, and to make a presentation of a beautiful peggy bag and contents for Mrs Mathieson. The speakers bore testimony to the popularity enjoyed by Senior-sergeant Mathieson, and to the conscientious and tactful manner in which he had carried out his duties, and were unanimous in wishing him the best of prosperity in the future. — ODT, 26.6.1925 (Compiled by Peter Dowden)
The Irish Sun
14-06-2025
- Entertainment
- The Irish Sun
Trooping The Colour first as RAF make major change to spectacular Red Arrows flypast in move that ‘will delight Charles'
THE royals went green yesterday as the Trooping The Colour flypast featured nine Red Arrow jets powered by sustainable aviation fuel. After the planes tore down The Mall and over 9 Kate Middleton was a class act in her stylish turquoise outfit at the parade, pictured with her children Credit: PA 9 Prince William in a bearskin hat at Trooping the Colour Credit: Andrew Parsons / Kensington Palace 9 King Charles, William, Louis, George, Charlotte and Kate at the event Credit: AFP 9 A proud King Charles salutes the parade Credit: PA 9 Prince George, right, has a laugh with his brother Prince Louis Credit: Reuters 9 Kate and Charlotte in their matching turquoise outfits Credit: Splash Sustainable A renewable biofuel, made from hydro-treated vegetable oil that does not release new carbon dioxide into the atmosphere, was used to create smoke trails. It is thought to be the first time anywhere in the world that the two environmentally friendly fuels were used at the same time by a national aerobatic team. Read More on Royals It comes after we exclusively revealed An aide to the King said: 'The King will obviously be delighted to hear about the RAF use of sustainable aviation fuel. He has been encouraging wider use on royal flights where possible and practical. 'His Majesty hopes to be an early adopter whose example will encourage wider use across the aviation sector.' Meanwhile, the Princess of Wales took a front row royal seat as she returned to full participation in Most read in Royals She could not resist tapping her feet to the military music on parade and glancing over at hubby Prince William, 42, who was on horseback alongside On the eve of last year's bash, she apologised to the Irish Guards — who were trooping their colour — for not being able to represent them. But Kate was back yesterday and arrived at Horse Guards Parade resplendent in turquoise with her three children George, 11, Charlotte, ten, and seven-year-old Louis. The family waved at adoring crowds who had camped out for hours to see their favourite royals as they were taken in an open-top Louis had to be held back by an aide as he tried to scamper into the Major General's Office to watch proceedings from a second floor window. In there, But all three youngsters were on best behaviour and respectfully bowed their heads each time the Coldstream Guards passed below with their colours taking the Royal Salute. 9 The Red Arrows trailing their red, white and blue smoke over The Mall Credit: Alamy 9 The Royals wave to the crowds at Trooping of Colour Credit: Reuters 9 Kate and Charlotte smile as they pass the jubilant crowds Credit: PA Prince William, in bearskin hat, again sported the beard he grew ten months ago for the first time at Trooping the Colour — after the Army changed its rules, allowing soldiers to appear The King, for the second successive year, took part in a carriage rather than on horseback, due to his ongoing cancer treatment. Beforehand, a minute's silence was held by all royals, soldiers and 8,000 spectators for Charles had ordered royals, senior officers and coachmen to wear black armbands. Spectators included PM
