The CEO of Fortune Brands believes the Pernod acquisition of Allied will prevail sooner rather than later. Speaking at an investor conference yesterday (18 May), the US company's chairman and CEO, Norm Wesley, said that he expects Fortune to acquire some of Allied's brands from Pernod as early as this summer.

Wesley's comments come in the wake of an indicative counter-bid for Allied by a consortium led by Constellation late last week. Although he did not discuss the status of the proposed takeover, Wesley expressed apparent confidence that Pernod's deal will succeed.

"It really is Pernod's transaction," Wesley said. "Our deal is really structured at the back of that transaction.

Wesley also said that the acquisition of Canadian Club whisky, Courvoisier Cognac, Maker's Mark bourbon, Sauza tequila and some premium Californian wines, would double Fortune's premium spirits business from US$1.2bn in sales to around US$2.5bn.

"We think it's a great high-return opportunity," Wesley said. "The attractiveness for us is the brand portfolio we get from this transaction."