French spirits-maker Pernod Ricard SA is considering the sale of two of its whiskey brands — Wall Street and Natu Nobilis — for an undisclosed amount, Bloomberg reported Aug. 31, citing people familiar with the development.
Discussions about the sale of the brands, which are produced in Latin America and popular in Brazil, are in early stages, and Pernod Ricard may decide against a deal, the sources said.
The move comes as part of the distiller's strategy to focus on investing in its fast-growing products. In its earnings report for full-year fiscal 2018 released Aug. 29, Pernod Ricard revealed a 4% year-over-year drop in sales in the Americas.
Pernod Ricard declined to comment on the potential sale.