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Pernod Ricard acquires Absolut parent in $8.9B deal to bolster U.S. presence

Pernod Ricard acquires Absolut parent in $8.9B deal to bolster U.S. presence

PARIS —Pernod Ricard, the French liquor company based here, said it has agreed to acquire Sweden’s Vin & Spirit, the parent company of Absolut vodka, for 5.63 billion euros, or about $8.9 billion.

Pernod Ricard won the Stockholm-based vodka brand in a bidding war with other liquor companies that include Diageo, Bacardi and Fortune Brands. —Pernod Ricard, the French liquor company based here, said it has agreed to acquire Sweden’s Vin & Spirit, the parent company of Absolut vodka, for 5.63 billion euros, or about $8.9 billion.

Absolut is the fourth best-selling spirit in the United States behind Diageo’s Smirnoff vodka, Bacardi rum and Diageo’s Johnnie Walker Scotch. Pernod Ricard did not have any premium-vodka brands in its portfolio. —Pernod Ricard, the French liquor company based here, said it has agreed to acquire Sweden’s Vin & Spirit, the parent company of Absolut vodka, for 5.63 billion euros, or about $8.9 billion.

Pernod Ricard’s portfolio includes such brands as Seagram’s gin, Havana Club rum, Chivas Regal Scotch and Jameson Irish whiskey. —Pernod Ricard, the French liquor company based here, said it has agreed to acquire Sweden’s Vin & Spirit, the parent company of Absolut vodka, for 5.63 billion euros, or about $8.9 billion.

Referring to Absolut’s annual sales in the United States, Pernod’s managing director Pierre Pringuet said, “We wanted to bolster our presence in the U.S., and Absolut, with its 5 million cases, will definitely do that.” —Pernod Ricard, the French liquor company based here, said it has agreed to acquire Sweden’s Vin & Spirit, the parent company of Absolut vodka, for 5.63 billion euros, or about $8.9 billion.

Absolut is the top-selling premium-vodka brand internationally, with some 11 million bottles sold in 2007. —Pernod Ricard, the French liquor company based here, said it has agreed to acquire Sweden’s Vin & Spirit, the parent company of Absolut vodka, for 5.63 billion euros, or about $8.9 billion.

Pernod also said it intends to keep Vin & Spirit’s headquarters in Sweden. —Pernod Ricard, the French liquor company based here, said it has agreed to acquire Sweden’s Vin & Spirit, the parent company of Absolut vodka, for 5.63 billion euros, or about $8.9 billion.

Pernod Ricard chairman Patrick Ricard, said: “There is no written contract about that, but the value of the brand is because it is Swedish. A Swedish brand must be produced in Sweden.” —Pernod Ricard, the French liquor company based here, said it has agreed to acquire Sweden’s Vin & Spirit, the parent company of Absolut vodka, for 5.63 billion euros, or about $8.9 billion.

Ricard also said the acquisition “is a fantastic opportunity and represents our third transformational acquisition since the Seagram and Allied Domec transactions.” —Pernod Ricard, the French liquor company based here, said it has agreed to acquire Sweden’s Vin & Spirit, the parent company of Absolut vodka, for 5.63 billion euros, or about $8.9 billion.

The deal is expected to be finalized this summer. —Pernod Ricard, the French liquor company based here, said it has agreed to acquire Sweden’s Vin & Spirit, the parent company of Absolut vodka, for 5.63 billion euros, or about $8.9 billion.

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