CANADA: Pernod talks to Allied-controlled Corby
Pernod Ricard has been conducting talks with Corby Distilleries Ltd in Canada. The distiller, which is 51%-owned by Allied Domecq, confirmed yesterday (9 May) that it has been in discussion with Pernod regarding the possible takeover of Allied by the French company.
Should the proposed transaction proceed, Corby said, subject to the outcome of further discussions, Pernod has informed the distiller that it intends to retain Corby as the marketer and distributor in Canada of the Allied brands that it retains.
In a statement, Krystyna Hoeg, president and CEO of Corby, said: "We are encouraged to have had open communication with Pernod Ricard and are pleased with the information provided so far. There can be no assurance, however, that the proposed transaction between Pernod Ricard and Allied Domecq will be completed and, consequently, that the matters discussed with Pernod Ricard will come about.
"Based upon Corby's internal analysis, irrespective of whether the proposed transaction proceeds, Corby does not anticipate any disruption of production of its owned-brands, currently produced under agreement by Allied Domecq for Corby."
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....
Allied Domecq has added a new flavour to its Malibu range. The company said yesterday that it would be launching Malibu Passion Fruit in the US from April 15....
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....
LVMH has said it is not looking to buy Mumm Champagne from Allied Domecq....
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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