Pernod snaps up US vineyard

Pernod Ricard said yesterday it was buying Kenwood Vineyards to beef up its premium wines portfolio in the US, the French drinks company’s biggest market, and was looking for more small-scale acquisitions. The world’s second-biggest spirits group behind Diageo also said it still expected demand in China, where sales sank 28 per cent in its financial third quarter, to stay weak and kept a target for slower full-year profit growth.

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