Tuesday, March 06, 2007
Absolut(ely) For Sale
The Swedish government plans to sell V&S Vin & Sprit AB, a company it has controlled for 90 years and the maker of Absolut vodka, causing a land rush among alcohol marketers who would like to own the world's third leading selling premium liquor brand.
Estimates are the sale could bring as much as $6 billion. The line of potential buyers is forming and it could get fairly long before a deal is done. Bacardi, Diageo, Pernod Ricard, Fortune Brands, LVMH Moet Hennessy-Louis Vuitton and even Anheuser-Busch have been mentioned as potential suitors.
In addition to Absolut, the V&S portfolio includes Cruzan Rum, Plymouth Gin, other spirits and wines.