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Diageo opts for Ketel One over Absolut vodka.
(From Off Licence News)
Diageo has pulled out of the race to buy Absolut after sealing a AGBP460 million deal to buy a 50 per cent stake in the global distribution, sales and marketing rights of the super-premium Dutch vodka brand Ketel One .
A Diageo spokeswoman said: "We did not submit a bid for Absolut. We expressed an interest, but we had an opportunity for this partnership and decided it was a better fit with more potential for growth." Regulatory considerations had also played a part in the thinking, she said. "We would have faced difficulties in some markets, but now our deal is done and we aren' caught up in an auction process which could go on for some time." The Ketel One deal includes the perpetual global rights to sell, market and ...
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