Pernod Ricard tight-lipped about sale

The New Zealand arm of French wine and spirits company Pernod Ricard is refusing to comment on whether it is having trouble finding a buyer for five key wine brands.

On Monday, the Commerce Commission announced an inquiry into Pernod Ricard's possible failure to sell the brands in time to meet a commission deadline.

When the firm bought Allied Domecq's New Zealand business last year, it gained a clearance on competition grounds from the commission after a voluntary commitment to sell the brands by this July.

They were Chasseur, Lindauer, Aquila, Chardon and Italiano.

But the commission said it was looking into the implications of Pernod Ricard failing to meet this undertaking.

A spokeswoman said yesterday that the commission was aware the brands had not yet been sold and had been approached by Pernod Ricard asking what would happen if the brands were not sold in time.

She was not sure when the approach was made but said it came during dialogue between the commission and the company and they had been talking for some time.

A Pernod Ricard spokeswoman would not comment on the issue.

"There is no comment at present as we feel the Commerce Commission's press statement and own comments are explanatory of the situation."

She said the company was happy to deal with the commission on any issue and "we look forward to the investigation progressing quickly".