ECONOMY

New spirit sales channels open for Seagram

The finalization of the acquisition of Seagram wines and liquor company by the Diageo-Pernod Ricard consortium for $8.15 billion, after the approval of the deal by US authorities last month, will bring about changes in the distribution of a number of liquor brands in Greece, including Chivas Regal whisky, Stolichnaya vodka and Captain Morgan rum. These will now be distributed by Mytilene-based EPOM, a subsidiary of Pernod Ricard, and United Distillers & Vintners, a subsidiary of Diageo, which is the largest spirits group in the world. The Greek liquor market has been stagnant in recent years. Scotch whisky retains the largest market share, while ouzo accounts for 28 percent of total consumption. Seagram’s three Greek subsidiaries, Lupka holding company, Seagram Apka and Seagram Dodecanese were placed in a process of liquidation on December 31, 2001. The latter had been inactive for a number of years. A further sign of consumer confidence came from western European car registration data which rose 1.2 percent year-on-year in December.