Blog: Fortune - bye-bye wine, hello Absolut?
Olly Wehring | 13 November 2007
Fortune Brands' move to sell its US wine business, announced yesterday (12 November), would appear to set the scene perfectly for the impending bunfight over Vin & Sprit.
The likely sale of the Swedish state-owned drinks company, which owns the Absolut vodka brand, is expected to be announced in the coming months. And, with Fortune jointly handling Absolut's distribution in the US with V&S, as well as the two being partners in global distribution company Maxxium, Fortune appears to have the most to lose should it fail in acquiring the Swedish firm.
With Diageo, Pernod Ricard and Bacardi, among others, having all voiced their interest in V&S, it is understandable that it might be 'squeaky bum' time at Fortune's headquarters in Illinois. Certainly, the US$840m Fortune is expected to realise from the wine sale to Constellation Brands will help, but you can be pretty sure that the other runners and riders will take pleasure in, at least, driving V&S's sale as high as they can - and we all know that Diageo and Pernod have quite deep pockets when it comes to brand buying.
And so, we all wait for the off. All it'll take is for the Swedish government to raise the starting tape.
I, for one, can't wait - nor, it seems, can Fortune, now.
Diageo has jumped onboard Google's latest interactive maps and is opening up the virtual doors to four of its distilleries. ...
A very early start today, with Carla Errazuriz from Concha y Toro's fine wine division picking me up from our Santiago hotel at 0700....
Ever wondered how a whiskey still gets built? ...
After yesterday's introduction to Chile, today was all about Concha y Toro – that's to be expected, seeing as they invited me here....
- Remy, dead cats and the power of China's new year
- Focus - Remy Cointreau's YTD Performance by Brand
- Will Lucas Bols' IPO Bring Much Needed Stability?
- A Dangerous World and the Threat to Beverages
- Price drops would damage our DNA - Remy Cointreau
- Moët Hennessy unveils first Travel Retail outlet
- Pernod unveils Jameson bottle for St Patrick's Day
- Maxxium UK head to depart for Edrington role
- Remy eases declines as China hints at recovery
- SABMiller beer volumes fall as China holds back Q3
- Global RTD/RTS insights - market forecasts, product innovation and consumer trends research
- Global vodka insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- just-drinks on-trend: Craft beer - fortunes and future
- The Sugar Backlash and its Effects on Global Consumer Markets