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UK: Allied Domecq on the lookout for more acquisitions

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Graham Hetherington, group financial director of UK-based wines and spirits combine, Allied Domecq, has said the company is still looking to make small acquisitions, notably in the premium wines sector.

In particular, Hetherington said the company was looking to acquire an Australian wine producer but so far had not found a suitable candidate. However, he added that the group was not looking for major acquisitions and was focusing management efforts on existing businesses.

"There's a strong logic to further industry consolidation," Hetherington said, "so there's a long-term scale alternative supplier to Diageo."

However, while Diageo is looking to offload its Burger King fast food business, Hetherington said Allied Domecq is committed to keeping its food businesses, Dunkin' Donuts, Baskin Robbins ice cream, and Togo's sandwiches, which provide better returns than the drinks operations and have growth potential both in the US and other markets.

Hetherington said Allied Domecq would keep up its advertising and marketing spending, aiming to invest €600m in brand building in 2002.


Companies: Allied Domecq, Diageo

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