US: Fortune confirms V&S Sweden visit
A team of senior executives from Fortune Brands visited Sweden last week to discuss the possible sale of Vin & Sprit.
Speaking to just-drinks on Friday (14 September), a spokesperson for Fortune, which owns Beam Global Spirits & Wine, confirmed that among the visiting party was group CEO Norm Wesley and the CEO of Beam Global, Tom Flocco.
"We were in Sweden meeting with stakeholders in the process," the spokesperson told just-drinks. "We've expressed an interest in the privatisation of V&S, and we want to hear the concerns of interested parties." The spokesperson would not be drawn on whether the Fortune team had met with representatives of the Swedish government during the trip.
Speaking at a press conference last week, however, Wesley said: "It (V&S) is owned by the state and parliament controls the process and we have not come here to try to influence them to do anything but to try to anticipate what might happen."
Wesley also noted that the other contenders for V&S may have regulatory issues to deal with should it be sold. "We're the only one that is not listed as a competitor in the annual report," he said. "Others have conflicts. Diageo has Smirnoff, Pernod has Stolichnaya and Bacardi has Grey Goose. The antitrust authorities will decide how big those issues are."
The spokesperson highlighted that the Swedish government has still to decide what it intends to do with V&S. "The Government has not yet established a process," he said. "We've not yet heard."
The steep rise in alcohol duties announced in yesterday's Budget, which the Government says will help to tackle binge drinking, follows the publication of its review of the 2005 Licensing Act last wee...
As a practical, economical and lightweight packaging medium, polyethylene terephthalate (PET) is without peer and has become widely used by soft drinks producers. But as environmental pressures have g...
Baltika has confirmed a marked lift in its full-year dividend payment to shareholders....
Newer beverage lines continue to drive growth in the US soft drink market, which enlarged by 1.3% in 2007, according to figures released this week....
The Czech government has selected a law firm to handle Budejovicky Budvar's switch from state-owned brewer to a joint-stock company, according to local reports....
Asia Pacific Breweries has completed the construction of its greenfield brewery in Laos....
Carlsberg's bid to take over part of Scottish & Newcastle has been approved by the European Union....
Heineken-APB (China) has bought up the remaining shares in Shanghai Asia Pacific Brewery that it does not already own....
- The End of the Road for International Beer Brands?
- Comment - Another One Bites Bacardi's Dust
- Allegro: The shape of things to come at Pernod?
- Pernod Ricard's FY Performance by Region, Brand
- US craft vodka puts squeeze on Pernod's Absolut
- Mast-Jägermeister targets UK off-trade boost
- Pernod bemoans tough FY as sales, profits drop
- ASA bans Jägermeister TV ad
- Bacardi announces CFO switch
- SABMiller exec to become CFO at Beam Suntory