FRANCE: Seagram receives FF450m bid for Oddbins in four-way battle
The French company is one of four contenders, sources told just-drinks.com, including Nomura, a management buyout and a group of "private individuals".
Pierre Castel head of Castel Freres told just-drinks.com that the company was very interested in Oddbins and the outcome of the sale should be known by the end of the month.
He said that Castel Freres' Nicolas wine shop business had very good synergies with Oddbins and he was particularly interested in developing the Nicolas wine bar concept alongside the off-licence chain.
When question how hopeful he was in succeeding with the offer, Castel would only say he was "optimistic". But local sources said the bid should be taken "very seriously".
Frank Crouzet, Castel Freres' development and communications director, dispelled any fears that the Oddbins business would just be assimilated into Nicolas. He said: "Wherever Castel develop there is always respect for local authenticity. We make use of synergies but respect what exists."
The Castel Freres business currently includes 800ha of vineyards in Bordeaux along with 12 chateaux, 1200ha in Morocco and 120ha in Provence. The Nicolas business includes 450 shops in 21 countries including over 100 overseas sites, in locations such as Tokyo and New York. Thirty shops are based in London.
Oddbins is part of the Seagram spirits and wine business that is being sold to a joint Pernod Ricard and Diageo venture. However, Pernod, who is due to takeover the off-licence chain, made it clear early on that it had no interest in retailing and put the business up for sale.
At present Oddbins remains with Seagram as the Pernod/Diageo sale still awaits regulatory approval.
Seagram refused to comment on the disposal.
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....
- Why sports drinks fail to ride the Olympic wave
- Experienced hands hold firm at CCEP - Analysis
- What do US wholesalers think of spirits trends?
- It isn't just men who like beer - Comment
- How the craft economy is loosening alcohol laws
- Diageo merges US, Canada spirits units
- Johnnie Walker's Bourbon bent "coincidental"
- Luxury and e-commerce a "natural fit" - Diageo
- "We're not complacent about Brexit" - Diageo
- Diageo's Johnnie Walker set for festive push in TR
- Global gin insights - market forecasts, product innovation and consumer trends
- The Next Seven Big Beverage Markets
- Global rum insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends