Vin & Sprit has welcomed today's (31 March) announcement that Pernod Ricard is set to take control of the Swedish company.

Earlier this morning, Pernod confirmed that it has won the auction for Vin & Sprit, which owns the Absolut vodka brand, for US$8.9bn. The French company trumped Fortune Brands, which had been widely considered the favourite to acquire V&S.

In a short statement, Vin & Sprit's board said that it could see "considerable industrial logic" in the deal

"Pernod Ricard is a well-reputed company in the industry, with international brands as well as strong local presence," V&S said. "They take a long-term industrial view and have stated their ambition to continue to develop V&S's operations."

A spokesperson for Vin & Sprit declined to comment further when contacted by just-drinks today.