Business

Chris Cantell Discusses Business: Sweden company purchases Vin & Sprit Company, maker of Absolut
by Beata Novomeska

These days it is known that Swedish company which sells spirits, Pernord Ricard SA, buys maker of Absolut vodka. Spirits group Pernord Ricard SA produces Scotch whisky, French champagne and Cuban rum. Now it will be Absolut vodka, too. It is verz big success for Pernod Ricard SA and as its Managing Director said it is a unique acquisition and he would describe it as a big bang. Now this company, after buying maker of Absolut vodka, will have better profits than it had because Absolut vodka creates big sales, roughly a half of them. There is now yet better perspective for Pernord Ricard. Together there were four companies which provided their proposals; US Fortune Brand Inc, Bermuda Bacardi Ltd and investment group controlled by Sweden's Wallenberg family. Every company had a good proposal, but Pernord Ricard was obviously the best one. It is another top brand in the company's portfolio. Another brands produced or distributed by the company are Chivas Regal Whisky, Mumm Champagne, Beefeater gin and Havana Club rum. Everything are known brands which are drunk all over the world, in Europe, USA and other continents, too. It has to be a good luck for the company to acquire another qualitative brand which is already known and drunk everywhere. Apart from this agreement there will be another one with another vodka brand, Stolichnaya. The Swedish government said that it was a part of broader sale to pay off the country's debt. Absolut was the premium brand in Vin& Sprit's products range. It has wide range of flavors from peach to blackcurrant. Now Pernord Ricard will take over all responsibilities and advantages over the Absolut. The government itself is satisfied with proposal of Pernord Ricard. Prime Minister Fredrik Reinfeldt said that it is very important deal since it is at a better price than what was expected. In the end, there is a satisfaction on both sides.

related story: http://www.iht.com/articles/2008/03/31/business/31vodka.php

by Beata Novomeska for PocketNews (http://pocketnews.tv)

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Edited by: Katarina Bosanska

Labels: Business, CantellTV, Chris Cantell, Christopher Cantell, digital broadcasting, SigEx Foundry, SigEx Telecom

posted by Blog TechSource @ 6:46 AM