US: Fortune heads to Sweden in V&S race - report
Fortune Brands appears to be upping its profile in the impending race to acquire Sweden's Vin & Sprit.
The head of Fortune is reported to have visited Sweden recently, to meet "key persons in the sale process". Norm Wesley, the company's chairman and CEO was in the country last week, local business paper Dagens Industri has claimed.
"We have cooperated for a long time with Vin & Sprit," the paper cited Wesley as saying. "It would be a natural and logical step after our close cooperation if we bought Vin & Sprit."
"Absolut would be our biggest brand. But we are also very interested in other brands in Vin & Sprit's portfolio, such as Plymouth Gin and Cruzan Rum. We have the financial flexibility to buy all or parts of Vin & Sprit, depending on how the Swedish government decides to do the sale," Wesley was cited saying.
"We would just continue to develop Vin & Sprit together with the current competent management. Brands like Absolut are built over a long time and it would just be stupid to try to change the brand's Swedish profile or to move production."
Constellation's US$885m purchase of Fortune Brands' wine portfolio further adds to the acquisitive US company's impressive line-up. Chris Losh believes the deal makes perfect sense for Constellation, ...
Beam Global Spirits & Wine has announced an addition to its 100 Años Tequila stable in the US....
The chairman of Remy Cointreau has confirmed that the company is set to create its own distribution company in China and South-East Asia....
Constellation Brands has announced plans to move its corporate headquarters from Woodcliff Office Park in Perinton to Victor in western New York's Finger Lakes wine region....
V&S Group's Absolut vodka brand has already exceeded last year's annual production records....
Speculation over the last year regarding the future of Vin & Sprit has failed to disrupt operations at the Swedish state-owned company, according to its CEO....
Constellation Brands has created a new production and supply officer position....
The privatisation of Swedish state-owned alcohol concern Vin & Sprit has been brought forward as an indirect result of the US sub-prime mortgage crisis, Swedish media has reported....
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