By Kim Richters

Pernod Ricard SA said Friday that it signed an agreement to take over a majority stake in Colombian rum La Hechicera.

The French drinks group didn't comment on the financial terms of the deal but said it expects it to close in the coming weeks.

Pernod Ricard said it was "pursuing its active portfolio management strategy," which is part of its strategic plan.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

March 05, 2021 12:35 ET (17:35 GMT)

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