SWEDEN: V&S enters Norwegian market with JV
Vin & Sprit, the Swedish drinks company, has acquired a 50% stake in the Norwegian importer Amundsen AS, through a joint venture that will see the Norwegian operation market and distribute all V&S products in the country.
The Norwegian company, which will keep its name, already handles V&S's Danish portfolio, Danish Distillers. The deal will see Amundsen's turnover almost double and a number of new staff will be recruited to handle the increased size of the business.
Peter Lagerblad, CEO of V&S, said: "We are very happy to concentrate the distribution of all our brands on the Norwegian market with one company which is well established. We will have a very good basis for further expansion in Norway. Through this move the last piece of the puzzle falls into place, and we now have a strong organisation in all the Nordic companies."
Financial details of the deal were not disclosed but the Amundsen family will maintain the other 50% of the business.
Ivar Amundsen, chairman of Amundsen AS, said: "We are very happy to have established this partnership with a professional, long-term industry player with a strong focus on the Nordic market. Both for our existing and our new brands, as well as for our team, this joint venture will provide a solid base for future growth and the strengthening of our market position."
- Interview - Pernod Ricard's luxury director
- What's coming up in wine in 2017? - Comment
- Chile's winemakers caught out by Brexit "disease"
- The just-drinks Analyst - 2017 forecasts
- The Cognac Category - Everything you need to know
- Diageo Australia names new commercial head
- Edrington readies Americas, GTR exec switches
- Suntory sends staff to fat camp - report
- High-end Cognac making recovery in China - Pernod
- "Beer and weed are complements" - analyst
- The Next Seven Big Beverage Markets
- Global vodka insights - market forecasts, product innovation and consumer trends
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Darker Than Before: Global Prospects for Brown Spirits
- Global gin insights - market forecasts, product innovation and consumer trends