SWEDEN: Vin & Sprit sale confirmed
The Swedish government has decided to sell Vin & Sprit by auction, with cash appearing to be the deciding factor.
The country's Finance Minister, Mats Odell, confirmed today (11 December) that V&S, which owns the Absolut vodka brand, will be privatised in a trade sale at some point next year.
"We have now finished the preparatory phase and will begin a more active phase. A transaction is expected to be announced next year," Odell was quoted as saying by Swedish news agency TT. "I hope it can happen fast and in an effective way but it's not the specific time that is the most important but that we get the best possible price."
Interested parties, thought to include Fortune Brands, Diageo, Pernod Ricard and Bacardi, will be contacted today, Odell noted. "It will be the one who pays the highest price and the one who after a full assessment shows that it offers the best (deal) for the Swedish households."
Odell also said that V&S would be sold whole, and not broken up. As well as Absolut, V&S also owns, among others, the Luksusowa vodka brand in Poland and Cruzan rum.
No-one was immediately available for further comment at the Swedish finance ministry when contacted by just-drinks today.
Beam Global Spirits & Wine was the frontrunner to land Absolut vodka but was pipped at the post by Pernod Ricard. However, president and CEO Tom Flocco says the company has quickly put that disappoint...
Brown-Forman has posted record sales for its fiscal year, driven by a strong performance in its international markets....
The US Federal Trade Commission has finally given Diageo the green light to push through its partnership with the Nolet family and the Ketel One vodka brand....
Kentucky-based Heaven Hill Distilleries has re-opened its newly expanded Bernheim Distillery....
Russian Standard Vodka has entered into a partnership with Cirrus Airlines, one of Germany's largest independent regional airlines....
The top ten most visited stories on just-drinks this week:...
The prospective head of Pernod Ricard has warned that there could be a reduction in the number of flavoured editions of the Absolut vodka brand going forward....
Blavod Extreme Spirits has secured the intellectual property rights for the Blackwood's gin and vodka brands....
- The category today - Scotch Whisky I
- Today's Market Trends - Scotch Whisky II
- Tomorrow's Market Trends - Scotch Whisky III
- Key Brands Performance - Scotch Whisky IV
- Category Innovations - Scotch Whisky VII
- Beam Suntory names CFO, makes structural changes
- Analysts clash over AB InBev SAB Brexit impact
- Diageo to accept US$1m South Korea fine
- Pernod switches Travel Retail Europe op's director
- AB InBev unveils Stella Artois three-packs
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global travel retail insights - market forecasts, product innovation and consumer trends
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Consumer and Market Insights: Wine Market in China