The acquisition of Malibu, Diageo#;s coconut rum brand, by Pernod Ricard was "absolutely feasible", according to Pierre Pringuet, the joint-group general manager of the French drinks company. Despite concerns in the industry its Seagram acquisitions might prevent a successful bid for Malibu, Pringuet told just-drinks that Pernod would not be over-stretched by a further spending spree.