Pernod Ricard sells BWG in €220m management buyout

PERNOD RICARD has sold its BWG subsidiary for €220 million to a management buyout led by chief executive Leo Crawford.

The deal was backed by venture capital firm Electra Partners.

Mr Crawford says he expects the deal, which has been in the pipeline for nearly a year, to be finalised in August once regulatory approval is achieved. The firm’s 2,200 workers will share in the deal.