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Tuesday, December 12, 2006

Stoli on the Block

French drinks giant Pernod Ricard says it is close to acquiring the Stolichnaya vodka brand from S.P.I. Group, a Russian firm. The deal could be worth $2 billion.

S.P.I Group, was established in 1997, and holds the rights to several Soviet Union era brands in Europe and the United States. Soyuzplodimport has had a legal battle with S.P.I. over the rights to Stoli, but S.P.I. successfully signed a deal with Allied Domecq to market the vodka. Pernod Ricard acquired Allied Domecq and holds an option to buy the brand.

It is unclear whether Soyuzplodimport will try to block the sale.

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