SWEDEN: Absolut owner to enter bidding for Seagram drinks
According to the UK's Financial Times, Vin & Sprit has sent a letter to global liquor companies saying it believes it can enter into a new distribution agreement for the Absolut vodka brand.
V&S is to use Absolut as leverage to gain a greater foothold on the international drinks scene and a stronger say into how its flagship brand is sold.
In return for teaming up with one or more of the many suitors for Seagram's drinks, which include Pernod Ricard, Allied Domecq, Diageo, Bacardi, Brown Forman and Remy Cointreau, V&S is believed to want brands from the sale or a stake in the buyer.
The letter strengthens suspicions within the industry of problems between V&S and Seagram, who currently distribute Absolut. Absolut is estimated to contribute up to a third of Seagram's drinks profits and the Canadian company is keen that distribution of the vodka be part of the package it auctions off.
However, V&S's reluctance to comment on the deal has suggested that within its agreement with Seagram it has the right to renegotiate its distribution should Seagram's wines and spirits undergo a change of ownership.
The Swedish state-owned company is said to want distribution of the brand to go to a buyer of its choice.
It's been a quiet day on the Pernod/Allied Domecq front....
Conflicting reports circulated this weekend over whether Bacardi International is looking to form a counter-bid for Allied Domecq....
Todays press reports into Pernod and Fortune's hopes to buy Allied Domecq warn of possible conflicts and set a date for completion....
Allied Domecq has added a new flavour to its Malibu range. The company said yesterday that it would be launching Malibu Passion Fruit in the US from April 15....
Pernod Ricard and Fortune Brands are considering a US$13 billion bid for Allied Domecq, the world's second-largest spirits company. Were it to take place, Pernod and Fortune would split Allied's brand...
Pernod Ricard and Fortune Brands are hoping to buy Allied Domecq for around 670p per share, according to press reports....
The US consumer goods group Fortune Brands has confirmed it is in talks about launching a joint bid with Pernod Ricard for Allied Domecq....
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