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. Last Updated: 07/27/2016

Pernod to Distribute Stoli in America

Pernod Ricard, the world's No. 2 spirits firm, announced a deal worth 100 million euros ($122.1 million) to distribute Stolichnaya vodka on Thursday.

Fresh from its near-11 billion euro takeover of Britain's Allied Domecq, Pernod said it had won exclusive rights from SPI Group to distribute Stolichnaya in the United States and other markets and had an exclusive option for discussing the possible purchase of the brand.

Rights to distribute Stolichnaya had previously been held by Allied, and distribution of the brand in the United States was an important part of the reasoning behind Pernod's Allied acquisition.

Pernod concluded its acquisition of Allied, home to Malibu coconut rum and Ballantine's whiskey, in July.