Pernod Richard took over Vin & Sprit wine company

2008-03-31 16:45:11 (GMT) ( - Business News)

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As reported to Associated Press by the Swedish government on Monday, a group of French liquor Pernod Ricard is purchasing Vin & Sprit for $9.24 billion the makers of Absolut Vodka.

French company testified in their statement “With the acquisition of V&S, Pernod Ricard becomes the world’s co-leader in the wine and spirit industry”. The statement told “Absolut, the world’s premiere brand of premium vodka with some 11 million 9-liter boxes in 2007 is an iconic brand whose importance goes beyond the world of wines and spirits.

The government of Sweden said the French company apart from brands like Mumm champagne as well as Chivas whisky, intended to keep the Vin & Sprit in Sweden only.

In a government’s statement it said “Pernod Ricard submitted an offer that on an overall assessment is the most attractive. Pernod Ricard will be an excellent home for V&S. The board of V&S has expressed that they see significant industrial logic in the transaction.”

The deal would be accomplished during summers.

Last year, Vin & Sprit has been set up to get sold as a part of broader plan of Sweden in order to sell the assets of stay to pay off country’s debt.

Absolut, with its variety of flavor from blackcurrant to peach is a premium brand of the Vine & Sprit’s range of product that also include Plymouth gin, Cruzan rum and loads of wines. The Absolut is supposed to represent approximately half the sale of company if $1.48 billion. - Press Release Distribution Service


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