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Pernod Doesn’t Plan More U.S. Wine Purchases After Kenwood

Pernod-Ricard
A bar worker pours a glass of Ricard pastis, produced by Pernod-Ricard SA, in this arranged photograph at a bar near Archacon, France. Pernod Ricard SA doesn’t plan to acquire additional wineries in the U.S. following last week’s agreement to buy Kenwood Vineyards in California. Photographer: Balint Porneczi/Bloomberg

May 2 (Bloomberg) -- Pernod Ricard SA doesn’t plan to acquire additional wineries in the U.S. following last week’s agreement to buy Kenwood Vineyards in California.

The Australian newspaper said today the Paris-based company would be interested in buying Treasury Wine Estates Ltd.’s U.S. business, citing an interview with Jean-Christophe Coutures, chief executive officer of Pernod Ricard Winemakers.

“We have not been in talks with Treasury Wine Estates or looking to acquire any further wine assets in the U.S. market at this time,” Coutures said in an e-mailed statement to Bloomberg News following the newspaper report.

Treasury, owner of U.S. brands including Beringer and Stags’ Leap, had earlier soared the most on record in Sydney trading. The shares pared gains after Coutures’ statement and closed 6.5 percent higher at A$4.09.

To contact the reporter on this story: Angus Whitley in Sydney at awhitley1@bloomberg.net

To contact the editors responsible for this story: Beth Williams at bewilliams@bloomberg.net Edward Johnson

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