SWEDEN: Vin & Sprit on the acquisition trail

The chief executive of the Swedish state-owned spirits company, Vin & Sprit AB, has said the company is looking for acquisitions and aims to become one of the world's top five spirits companies within the next five years.

Peter Lagerblad said V&S would "actively take part in industry consolidation as opportunities come along". In addition, Lagerblad said the company also intends to exercise its option to increase its stake, currently 10%, in Jim Beam Brands.

Vin & Sprit, which produces the Absolut Vodka brand, is currently the eighth largest beverage alcohol company in the world by volume. Absolut still accounts for around half of its annual volumes, with sales of 65.8m litres in 2001. Last year, V & S posted a pre-tax profit of SKr1.47 billion ($156.2m) on net sales of SKr6.73 billion.

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