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Patrick Ricard of global drinks firm Pernod Ricard dies | Patrick Ricard of global drinks firm Pernod Ricard dies |
(about 9 hours later) | |
Patrick Ricard, the French head of the global spirits company Pernod Ricard, whose father founded the Ricard firm, has died at the age of 67. | Patrick Ricard, the French head of the global spirits company Pernod Ricard, whose father founded the Ricard firm, has died at the age of 67. |
The firm said Mr Ricard had passed away on Friday. French media reports suggested he had heart problems. | The firm said Mr Ricard had passed away on Friday. French media reports suggested he had heart problems. |
Paul Ricard founded the company, which began selling the anise-flavoured liqueur pastis, in Marseille in 1932. | Paul Ricard founded the company, which began selling the anise-flavoured liqueur pastis, in Marseille in 1932. |
His son transformed the firm into the second largest wine and spirits company in the world. | His son transformed the firm into the second largest wine and spirits company in the world. |
He spent his entire career within the family firm and took over leadership as chairman and CEO in 1978, at the age of 33, just a few years after it had merged with its arch-rival, Pernod. | He spent his entire career within the family firm and took over leadership as chairman and CEO in 1978, at the age of 33, just a few years after it had merged with its arch-rival, Pernod. |
Patrick Ricard made a series of acquisitions beginning with bourbon maker Wild Turkey, in 1981, followed by Irish Distillers, then brands including whisky-maker Chivas and cognac producer Martell. | |
He led a buyout of UK-based competitor Allied Domecq in 2008. | He led a buyout of UK-based competitor Allied Domecq in 2008. |
The expansion into foreign markets transformed the firm into a major global player generating sales of 7.6bn euros ($9.35bn) in 2011, with some 18,000 staff worldwide. | The expansion into foreign markets transformed the firm into a major global player generating sales of 7.6bn euros ($9.35bn) in 2011, with some 18,000 staff worldwide. |
Mr Ricard, who was named European businessman of the year by the US magazine Fortune in 2006, was married with three children. | Mr Ricard, who was named European businessman of the year by the US magazine Fortune in 2006, was married with three children. |
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