Press release - Paris, 24 July 2008
Pernod Ricard is pleased to announce the completion of the acquisition of V&S Vin & Sprit AB (“V&S”). This follows the decision by the European Commission on 17 July 2008 to authorise Pernod Ricard to acquire 100% of the shares in V&S in accordance with the agreements concluded between the Kingdom of Sweden and Pernod Ricard on 30 March 2008. The transaction is valued at €5.69 billion, including debt.
The acquisition of V&S enables Pernod Ricard to assume co-leadership of the global wine and spirits industry. ABSOLUT, the number one premium vodka worldwide, is the ideal addition to complete Pernod Ricard’s brand portfolio and makes the Group the second-largest player in the US. In addition, the local brands V&S brings with it will add to Pernod Ricard’s critical mass in the Nordic markets.
In keeping with its decentralised structure, Pernod Ricard is putting in place two Swedish-based business units within V&S.
- ‘The Absolut Company’...