The rum and brandy producer, Todhunter International Inc., has said it is considering the possibility of returning to private ownership. However, the company stressed that it could give no assurance at this stage that it would go ahead with such a move.
Todhunter said that its board had formed a special committee of independent directors to explore the possibility of going private. The committee is expected to engage the services of an investment bank to advise on the matter.
Shares in Todhunter, which are traded in the US, were suspended at the time of the publication of the statement. Todhunter produces and distributes the Cruzan rum brands produced in the Virgin Islands and also produces vinegar.
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