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Sale hands Pernod an Absolut edge.
(From Off Licence News)
Byline: Laura Clark
Pernod Ricard has won the bidding war for Sweden's Vin & Sprit to become the new owner of Absolut vodka.
The French drinks giant outbid three other rivals, Fortune Brands, Bacardi and private equity group EQT, with its cash bid ofaAGBP4.4 billion.
The move will give Pernod an increased competitive edge against rival Diageo in the vodka market.
Pernod's chairman and chief executive Patrick Ricard described Absolut, which is the world's biggest selling premium vodka, as "an exceptional brand" that will enable Pernod to ...
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