US: Fortune and Pernod settle Allied deal
Fortune Brands yesterday (31 January) announced that the legal transfer of spirits and wine assets purchased from Pernod Ricard on July 26, 2005 has been completed.
The acquisition includes more than 25 spirits and wine brands, related production facilities and distribution operations in certain markets.
The deal between Fortune and Pernod Ricard was part of the French group's acquisition of Allied Domecq, a purchase completed last year.
The brands acquired by Fortune include former Allied brands Sauza tequila, Maker's Mark bourbon, and Courvoisier Cognac.
The company also bought Allied's former distribution operations in the UK, Spain and Germany, and for its US wine business. The acquisition expands Fortune's international presence and is expected to more than double the company's sales of spirits and wine.
"While we have already been managing, marketing and selling these brands, we are pleased to have substantially completed the formal transfer of assets from Pernod Ricard within the timeframe we envisioned," said Norm Wesley, Fortune chairman and CEO.
"The integration of these brands and operations is progressing very well, and this high-return acquisition is on track to add 35 cents or more to Fortune Brands' earnings per share in 2006."
Fortune also reported that the previously announced process for making final purchase price adjustments for the acquisition is nearing completion.
The resulting net payment by Fortune Brands of around GBP117m (US$207m) will bring Fortune Brands' total outlay to around US$5.2bn.
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....
LVMH has said it is not looking to buy Mumm Champagne from Allied Domecq....
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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