Pernod Ricard Becomes World’s Biggest Spirits Player, Acquires Absolut for $8.3 bn
Pernod Ricard moved an inch further in knocking Diageo (DEO) as the world’s biggest spirits player after inking a neat deal to acquire the Swedish state-owned parent of Absolut vodka for $8.3 billion.
During ongoing auction, the French spirits company outbid various others premium vodka globally including U.S.-based Fortune Brands (FO), Absolut’s current distributor. This enables Pernod to climb from fourth to second position among global spirits sellers with its deal with Vin & Spirit. Pernod has been on a quest to top the $200 billion global booze industry. Pernod Ricard’s capacity will rise from 75 million cases to 91 million, and all courtesy for this belongs to Absolut and V&S’s Cruzan rum and Plymouth gin.
Via USAToday
This entry was posted by author: Zolamarquis on Tuesday, April 1st, 2008 at 10:04 pm and is filed under News, Spirits | Tags: · Absolut, Absolut vodka, auction, Diageo, Fortune Brands, French spirits company, News, Pernod Ricard, Spirits, Vin 038 Spirit, World-039s Biggest Spirits Player You can follow any responses to this entry through the RSS 2.0 feed.
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