FRANCE: Remy casts cautious eye over Seagram spin-offs
Speaking to just-drinks.com, Remy-Cointreau chairman and chief executive Dominique Heriard Dubreuil, said from what she has seen, there are not that many brands the company is interested in. She added that although, "it would depend on the price tag" she was unsure if Remy's growth would come from the brands currently on offer.
She said: "We have a number of strategic points that are vital for us, any move we make will have to increase distribution as this is key to driving brand growth. Also any move has to enhance cash flow."
Dubreuil also indicated that a strategy based on acquisitions was not the only plan Remy was considering to achieve growth. She said: "We have financial ratios we want to keep. So we have not seen growth only in terms of buying but in terms of partnership."
She added that although external growth was important, "organic growth can be and is ambitious. It's a balance of both that makes growth in the long term."
Seagram's spirits and wine division was acquired by a joint bid between Diageo and Pernod Ricard before Christmas. Although Diageo has not indicated which brands it is likely to sell on, it is thought that Pernod Ricard will sell Four Roses Bourbon, Sandeman and Passport Scotch whisky.
Diageo is to launch a new global advertising campaign for Smirnoff Ice. The first ad in the global campaign, 'Garden', launches in Great Britain on April 11th on terrestrial and satellite TV. ...
Fideuram Wargny has upgraded its rating of Pernod Ricard to 'buy' from 'hold'. Its analysts argue that the merger talks with Allied Domecq is a catalyst for share growth....
Pernod Ricard is looking to acquire Allied Domecq....
Allied Domecq and Pernod Ricard have both been downgraded....
Diageo has completed another share buyback transaction....
E&J Gallo has announced a number of appointments within its European division....
Diageo's Smirnoff Signatures line of premixed cocktails is now available nationwide in the US....
Diageo is poised to cut back its presence in Germany, according to local reports....
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