UK: Seagram executive hopes for sale decision by mid-November
By Chris Brook-Carter | 14 September 2000
The president and CEO of Seagram's spirits and wine group was in London this week to speak to Seagram's UK staff, and said he hoped to have news of a decision on the sale of its drinks arm by mid-November.Steven J Kalagher, was there to "motivate the staff about the business and to keep the business moving forward," according to a Seagram source.However he was also there to discuss the sale process and many of the press reports about the disposal of the drinks arm "some of which have been more true than others".According to the Seagram source, staff were told that, although it was early, on "Allied Domecq and Diageo/Pernod Ricard were among the frontrunners for the business", however the UK and Anglo/French concerns were not the only companies mentioned.Kalagher also said that Charles Bronfman, the Seagram family member, was unlikely to be bidding for the business, backing up press reports last week that said Bronfman had concluded that it doesn't make sense to pursue a bid for the business, noting the good fit the business has with the rival bidders.
just-drinks articles are only available to registered users and members.
Join now for increased access
There are various access options to choose from. All provide instant access to the latest news, insight and expert analysis.
If you’re already a member, login here.
The president and CEO of Seagram's spirits and wine group was in London this week to speak to Seagram's UK staff, and said he hoped to have news of a decision on the sale of its drinks arm by mid-November.Steven J Kalagher, was there to "motivate the staff about the business and to keep the business moving forward," according to a Seagram source.However he was also there to discuss the sale process and many of the press reports about the disposal of the drinks arm "some of which have been more true than others".According to the Seagram source, staff were told that, although it was early, on "Allied Domecq and Diageo/Pernod Ricard were among the frontrunners for the business", however the UK and Anglo/French concerns were not the only companies mentioned.Kalagher also said that Charles Bronfman, the Seagram family member, was unlikely to be bidding for the business, backing up press reports last week that said Bronfman had concluded that it doesn't make sense to pursue a bid for the business, noting the good fit the business has with the rival bidders.
- Unlimited access to all the latest global beverage news and insight
- Expert analysis that puts the news into context
- Exclusive interviews with leading industry figures
- Monthly management briefings with detailed analysis on hot topics
- Personalised RSS feeds and email newsletters
- 10-year archive of news, insight and intelligence
- Discounts on just-drinks market research
- Plus much more
If you’re already a member, login here
More articles related to this one
US: Fortune confirms Allied bid talks
The US consumer goods group Fortune Brands has confirmed it is in talks about launching a joint bid with Pernod Ricard for Allied Domecq.
UK: Diageo launches global ads for Smirnoff Ice
Diageo is to launch a new global advertising campaign for Smirnoff Ice. The first ad in the global campaign, 'Garden', launches in Great Britain on April 11th on terrestrial and satellite TV.
FRANCE: Pernod confirms AD acquisition talks
Pernod Ricard is looking to acquire Allied Domecq.
