RJR Nabisco to Sell Heublein

RJR Nabisco Inc. has agreed to sell Heublein Inc. to London-based Grand Metropolitan PLC for $1.2 billion in cash, F. Ross Johnson, president and chief executive officer of RJR, said today.

Heublein, based in Hartford, Conn., markets nearly 100 brands of spirits, wines and imported beers. Its major brands include Smirnoff vodka and Inglenook and Lancers wines. Grand Metropolitan has interests in spirits and wines through its subsidiary, International Distillers and Vintners. Its major products include J&B; Scotch, Gilbey’s gin and Bombay gin.