Pernod Ricard

Global Alcohol firms Demand $466m From Indian State In Payments Row

Global alcohol companies are demanding unpaid dues of about $446 million from India’s Telangana state, three industry sources said.

French cognac maker Hennessy has suspended a plan to bottle its brandy in China to avoid tariffs, staff briefed by management have said.

The chief executive of Campari Matteo Fantacchiotti abruptly stepped down on Wednesday after just five months heading the company.

Investors for Remy Cointreau have said that it needs to diversify as its reliance on cognac leaves it badly hit by a global spirits downturn.

Pernod Ricard has agreed to sell the majority of its wine portfolio to Australia’s Accolade Wines to focus on its spirit business.

French spirits sales and exports have dropped sharply this year as consumers continued to cut back on spending in the face of cost of living.

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