NORWAY: V&S bolsters Nordic distribution business
V&S Group is set to beef up its distribution network in the Nordic region with the acquisition of Norwegian wine and spirits distributor Amundsen.
The state-owned Swedish group said today (30 March) that it has bought out the Amundsen family, its venture partner in the distributor. Financial details were not disclosed.
A spokesperson for V&S told just-drinks that the deal would help V&S become the second-largest wine and spirits distributor in Norway.
Last December, V&S secured the distribution rights to the Foster's Group wine portfolio in the Nordic region. The company hopes to attain the rights to labels including Penfolds, Lindemans and Beringer "shortly". The deal will position V&S as Norway's number two behind Arcus.
Amundsen, which accounts for 7% of spirits sales and some 5% of wine sales in Norway, had principally focused on handling V&S' wine and spirits brands in Norway.
V&S is one of six state-owned Swedish companies that are set to go up for sale with the Swedish government keen to privatise a raft of state assets.
While a lot of multinational interest surrounds Absolut vodka, the flagship brand of V&S, local players are eyeing the company's Nordic operations.
Finnish state-owned beverage alcohol group Altia Corporation has confirmed that it could be interested in V&S' Nordic operations. The owners of Arcus, Swedish private equity group Ratos, is also mulling a takeover bid for the assets.
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