Pernod Ricard has signed an agreement to sell the Domecq brand to Bodega Las Copas, a joint venture of Grupo Emperador Spain and Gonzalez Byass.

Financial details of the deal have not been disclosed.

Under the terms of the agreement, the Domecq's brandies, as well as its Mexican Ensenada winery will be sold, reported thedrinksbusiness.com.

"The disposal is in line with Pernod Ricard’s strategy to simplify its portfolio for growth and focus on its priority spirits and wines brands."

The deal also includes the sale of the complete Domecq stock in markets including Spain, the US, Belgium and the Netherlands.

The portfolio of brandies will include Don Pedro, Presidente and Azteca de Oro. The Mexican Ensenada winery produces wines such as Calafia, Padre Xino, and the premium X-A brand.

Pernod Ricard was quoted by the website as saying: “The disposal is in line with Pernod Ricard’s strategy to simplify its portfolio for growth and focus on its priority spirits and wines brands.

“It reinforces the presence of Bodega Las Copas in the global brandy category.”

Grupo Emperador Spain is a unit of brandy company Emperador.

In 2014, Emperador acquired Whyte & Mackay from United Spirits for £430m.

González Byass was founded in 1835 and produces wines and sherries, such as Tío Pepe Fino, and brandy Solera Gran Reserva Lepanto.

The transaction is expected to close before the end of the financial year 2016/17.