Pernod Ricard said that once it closes the deal, which it expects to do in November, it will fully consolidate Sovereign Brands in its financial statements. This will be accretive on its operating margin.

"The accretive effect on Pernod Ricard's profit from recurring operations is estimated to around 3% on a full-year basis," a note in the statement specified.

Sovereign Brands is a family company founded by brothers Brett and Brian Berish, which has developed a portfolio that includes Caribbean rum brand Bumbu, French super premium sparkling wine Luc Belaire, Brazilian gin McQueen and the Violet Fog and the French liqueur Villon.

(Reporting by Dominique Vidalon; Editing by GV De Clercq)