Pernod sell Italian flavours to Kerry

French drinks group Pernod Ricard has reached an agreement in principle to sell its fully-owned subsidiary San Giorgio Flavours (Italy) to Kerry​ Group, a global food ingredients company headquartered in the Republic of Ireland. San Giorgio Flavours is a leading Italian manufacturer of flavour ingredients with a portfolio of some 2000 flavours extending to both savoury and sweet consumer food segments. The company operates from two manufacturing facilities in Turin, Italy and concentrates on beverage, confectionery and savoury product industries. Its core market is Italy, however the company has expanded sales to 35 countries across Asian and EU markets. Pernod Ricard​ claims that the sale is part of the disposal program consequent upon the decision of concentrating the company's activity on its sole core business, spirits and wines.