US: Coke acquires Seagram brands from Diageo/Pernod
The Coca-Cola Company has acquired the Seagram's line of non-alcoholic mixers from drinks giants Diageo and Pernod Ricard. Terms of the cash transaction were not disclosed, however those close to the industry believe it will be for around US$80m to US$90m.
As part of the deal, Coke will acquire Seagram's club soda, seltzer, tonic and ginger ale brands. Coke, based in Atlanta, said it had signed a licensing agreement with Pernod Ricard for use of the Seagram's trademark.
"Seagram's is a natural fit and complements our existing brands in North America," said Jeff Dunn, president of Coca-Cola North America. "We believe our bottling partners will benefit from the value proposition offered by these mixers as we further develop these brands."
Coca-Cola's bottlers currently produce and distribute about 75% of the volume of Seagram's mixers in the United States.
"Now they'll be getting it from us instead of buying it from Seagram's," said Coca-Cola spokesman Ben Deutsch.
Diageo is to launch a new global advertising campaign for Smirnoff Ice. The first ad in the global campaign, 'Garden', launches in Great Britain on April 11th on terrestrial and satellite TV. ...
Fideuram Wargny has upgraded its rating of Pernod Ricard to 'buy' from 'hold'. Its analysts argue that the merger talks with Allied Domecq is a catalyst for share growth....
Pernod Ricard is looking to acquire Allied Domecq....
Allied Domecq and Pernod Ricard have both been downgraded....
Diageo has completed another share buyback transaction....
E&J Gallo has announced a number of appointments within its European division....
Diageo's Smirnoff Signatures line of premixed cocktails is now available nationwide in the US....
Diageo is poised to cut back its presence in Germany, according to local reports....
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