FRANCE: Pernod renews Havana Club contract
A senior Pernod Ricard executive says the group has just renewed contracts with the Cuban authorities for the exclusive distribution of Havana Club rum.
In 1994, Pernod, in association with the Fidel Castro-led Communist regime, set up 50:50 joint venture company, Havana Club International, to handle the worldwide distribution of the beverage.
In an interview in French business newspaper, Les Echos, the managing director of Havana Club International, Alexandre Sirech, said the contracts has been extended for further 10 years.
Over the next decade, the aim is to propel Havana Club into the Top 15 world brands for premium spirits having already gained a place in the Top 50 in 2003.
This would be achieved through a doubling of annual sales (which should exceed two million cases in 2004) and would follow almost quadruple growth in the previous decade - an ambitious goal given that the brand is currently barred from the US, the world's biggest market for premium rum.
Last month, Pernod Ricard claimed a victory before the US patent office in its long-running legal battle with Bacardi-Martini over the Havana Club brand. However, Bacardi-Martini is set to appeal.
As Pernod Ricard, Allied Domecq and Fortune Brands close in on the biggest drinks industry deal since the sale of Seagram, opinion about how the deal will be structured and who stands to win and lose ...
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....
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....
Anheuser-Busch has revealed plans to launch a new variant in its Bacardi Silver range....
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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