Pernod Ricard SA (ENXTPA:RI) is seeking M&A. Alexandre Ricard said during the 2022 Full Year Sales and Results Conference Call, "Financial policy, as I mentioned, our objective has been and will continue to be to maintain investment-grade rating, of course. Number one, priority #1 is to invest in the future organic growth of our business, in particular, through our strategic inventories and CapEx, which we've done this year, and we'll highlight what we intend to do in the coming year/Continued active portfolio management, including value-creating M&A. So please expect our bolt-on acquisition strategy to continue".