AUSTRALIA: Foster's set to hand over Seagram brands
The French spirits group, Pernod Ricard, and Australian brewer, Foster's Group, are in talks which would see Pernod take over the Australian distribution of 14 former Seagram brands currently in the Foster's portfolio.
Sources suggest the two companies have been in negotiations for the past few weeks and are expected to finalise the details by the end of the month. Foster's made no comment other than to say that negotiations were "continuing".
The former Seagram brands under discussion include Chivas Regal, Glenlivet Single Malt Whisky, Seagrams Gin and Martell Cognac. Pernod Ricard's acquisition of Seagram gave it the right to take over Australian ownership of the brands.
The spirits division of Foster's Group, though much smaller than the company's beer and wine interests, recorded sales of A$106m in 2000-01 and earnings before interest and tax of A$15.2m.
Foster's will retain some important non-Seagram brands such as Black Douglas and Cougar Bourbon and said it was interested in growing its spirits operations. "We are interested in growing our spirits business and are currently looking at a range of options in that regard,'' a company spokesman said.
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....
In spite of trying to buy up Southcorp, Foster's could itself be a takeover target in the near future, according to press reports....
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....
The US consumer goods group Fortune Brands has confirmed it is in talks about launching a joint bid with Pernod Ricard for Allied Domecq....
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....
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