Pernod Ricard said it has entered, through Chivas Brothers Limited, into an agreement in principle with Stock Spirits Group to sell the Clan Campbell blended Scotch whisky brand.

Clan Campbell is one of the leading brands in the blend-12 yo Scotch whisky category in France, with presence also in other European markets such as Spain, Luxembourg, and Italy. Its range has increased in recent years with the addition of Clan Caribbean rum-based spirit drink.

Pernod Ricard said the transaction is part of its active portfolio management, aiming at “adapting to the evolving needs of its consumers and providing greater opportunities for premiumisation”.

In France, the group’s portfolio of Scotch whiskies includes the blended whiskies Ballantine’s and Chivas Regal, as well as The Glenlivet and Aberlour single malts.

“Our dynamic and broad-based growth across categories and geographies is strengthened by our active portfolio management strategy. Following a successful series of targeted acquisitions, the disposal of Clan Campbell will enable our teams to focus on priority brands,” Alexandre Ricard, chairman and chief executive of Pernod Ricard, said.

Stock Spirits Group is a Central European based spirits and liqueur producer present in Poland, the Czech Republic, Slovakia and Italy. It owns more than 70 brands, including Zoladkowa Vodka, Stock 84 brandy, Limonce limoncello or Bozkov rum.