US/UK/Canada

Share

Pick a time period -
Tags ( Active)

Pernod Ricard’s Completed Acquisition of V&S

Press release - Paris, 24 July 2008Pernod 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

V&S Sustainability Report achieves highest reporting level according to GRI

V&S Group has achieved the highest level of A+ in line with Global Reporting Initiative (GRI) reporting guidelines. The A+ level has been confirmed by audit company Öhrlings PricewaterhouseCoopers. The GRI is supported by the UN’s environmental programme and entails the internationally best known and most widely used guidelines for sustainability reporting.“We are among the first in Sweden to achieve A+. We have long taken a goal-oriented approach to CSR, for example through responsible marketing, energy rationalization, transport, logistics and social responsibility, so it’s a natural step

Comments by the Board of V&S Vin & Sprit AB (publ) to the decision by the Government

Pernod Ricard is a well-reputed company in the industry, with international brands as well as strong local presence. They take a long-term industrial view and have stated their ambition to continue to develop V&S's operations. The Board sees considerable industrial logic in the deal.Further informationPeeter Luksep, Vice President Investor Relations, V&S, Phone +46 8 744 73 53,Mobile 070-723 41 28, e-mail ir@vsgroup.com

Improved results for third consecutive year for V&S

• Operating profit in 2007 increased by 2% to SEK 2,305 million (2,275). Operating profit increased by 19% for comparable units, i.e. adjusted for divestments and currency exchange effects.• ABSOLUT VODKA rose by 9% in volume in 2007.• The weaker US dollar compared to the previous year affected Group net sales by SEK -280 million and operating profit by SEK -155 million.• Profit after tax amounted to SEK 1,469 (1,577) million. Adjusted for a one-off tax effect in 2006, this year’s profit represents a considerable improvement.• Fourth quarter operating profit was up 17% to SEK 750 (641)

Very strong third quarter for V&S Group

• Third quarter operating profit up 23% to SEK 677 (549) million.• Third quarter profit after tax up 29% to SEK 423 (329) million.• Group net sales for the third quarter up 5% to SEK 2,666 (2,529) million.• Sales volume increased by 9% to 7.0 (6.4) million 9-litre cases in the third quarter“The third quarter was extremely strong for V&S compared to the same quarter last year, as particularly evidenced by the improved operating profit in all three business areas. V&S Absolut Spirits reports one of the best ever figures for a single quarter in terms of Swedish kronor. This only serves

V&S Group 90 years old

V&S Group was founded on 17 October 1917. Today, 90 years later, V&S can look back on a long, successful journey. As one of the world’s leading companies in the beverage industry – with a raft of spirits brands such as ABSOLUT VODKA, Grönstedts Cognac, Plymouth Gin, Aalborg Akvavit and OP Anderson and wines including Chill Out, California White and Blossa mulled wine – there is no doubt that V&S has every reason to be proud of its history.Milestones in V&S’s history include the advent and abolition of the monopoly, divestments and acquisitions, and the creation and launch of many different

V&S Group offsets carbon emissions by planting trees

V&S is the first company in the wines and spirits industry to introduce carbon offsetting as part of its environmental work. Carbon dioxide emissions from V&S’s production are being offset by investing SEK 3 million a year in certified forest planting in Mozambique and Mexico.V&S has already managed to reduce carbon dioxide emissions from production and transport. Emissions per litre of beverage sold decreased by approximately 30 per cent between 2003 and 2006. The new target is to reduce emissions by a further 25 per cent by 2010.V&S is now taking a further step in limiting global

V&S Group: Continued organic growth

• Operating profit decreased 19% to SEK 878 (1,085) million• Adjusted for exchange rate fluctuations, capital gains and divestments, both operating profit and sales increased 4%• Profit after tax decreased 7% to SEK 580 (626) million• Group net sales decreased 3% to SEK 4,683 (4,842) million. Organic growth amounted to 4%• Sales volume increased by 2% to 12.1 million 9-litre cases (11.9)• Sales volume for ABSOLUT VODKA increased 3%“V&S continues to perform well. Adjusted for exchange rate fluctuations, one-off revenues and divestments, sales and operating profit were both up 4 per

V&S Group enters China´s domestic spirits industry

As one of the first international companies, V&S Group enters China´s large domestic spirits industry. Together with one of the top three baijiu producers in China, JianNanChun (JNC), which is second largest in volume and third in revenue and tax, V&S Group has formed a joint venture which will develop a portfolio of premium baijiu brands. The new company is owned to 51% by V&S Group and 49% by JNC.Baijiu is the traditional domestic spirit of China and is by far the most popular spirit in China. Over 520 million 9l cases of baijiu are sold every year in China. This is to compare to the

Strong first quarter for V&S Group

• Operating profit increased by 10% to SEK 458 (417) million• Profit after tax increased by 21% to SEK 303 (251) million• Net sales decreased by 1% to SEK 2,223 (2,238) million. Exchange rate fluctuations reduced sales by approximately SEK 100 million• Sales volumes increased by 5% to 5.5 million 9-litre cases (5.2)• Sales volumes for ABSOLUT VODKA rose by 10%• The remaining 50% of Norwegian wine and spirits distributor Amundsen AS was acquired• The Florida Distillers operation was divested on 1 April“It is very pleasing to see that our efforts to focus V&S are continuing to

Interim Report January-March 2007

This is a translation. The Swedish version is the official.• Group net sales for the first quarter decreased by 1 per cent to SEK 2,223 (2,238) million.• The organic growth, excluding currency effects, amounted to 5 per cent.Exchange rate fluctuations, primarily the weaker US dollar, reduced net sales by approximately SEK 100 million.• Operating profit increased by 10 per cent to SEK 458 (417) million and the operating margin improved to 20.6 per cent (18.6). Exchange rate fluctuations reduced operating profit by approximately SEK 55 million.• Profit after tax increased by 21 per

V&S Group continues expansion, acquires Norwegian distributor

V&S Group strengthens its position in the Nordic market through the acquisition of remaining shares in the Norwegian wine and spirits importer Amundsen AS. Since 2001 V&S Group owns 50 percent of Amundsen and is market leader in the Nordic countries.“Through the acquisition of the remaining part of Amundsen, V&S has now a wholly owned business on the whole Northern European market”, says CEO Bengt Baron, V&S Group. “Amundsen is a well-established company in Norway. During the time we have co-owned the company with the Amundsen family, the company has developed positively and our ambition is

Anders Narvinger new V&S Board Chairman

Anders Narvinger has been appointed new Chairman of the Board of V&S Vin & Sprit AB, succeeding Claes Dahlbäck. Eva Lindqvist has been elected new Member of the Board.Jonas Iversen, Ebbe M Loiborg, Helle Kruse Nielsen and Mats G Ringesten have been re-elected to the Board.Anders Narvinger is Director-General of the Association of Swedish Engineering Industries and former CEO of ABB Sweden. He is Chairman of the Boards of Trelleborg AB, Alfa Laval AB, the Swedish Trade Council and the Invest in Sweden Agency. Narvinger, a MSc in Engineering and in Economics, is also on the Board of Volvo

Swedish consumer survey: Vodka is made from grain or potato

Grain and potato were identified as the raw materials of vodka by 62 per cent in a Swedish consumer survey ahead of an upcoming EU decision on revised spirits definitions.The raw materials of other spirits are less known among Swedes. 45 per cent identified that whisky is made from grain, 24 per cent that cognac is made from grapes and 34 per cent that calvados is made from apples."This shows that Swedish consumers have a clear picture of what vodka is made from", comments Peeter Luksep, responsible for EU issues at V&S Group, the company that has commissioned the research. "Similar

V&S signs agreement to sell Florida Distillers

V&S Group has signed an agreement to sell Florida Distillers, which was part of the acquisition of Cruzan Rum, to Belvédère, a French spirit group.“The divestment of Florida Distillers is part of our strategy to maintain focus on our branded spirits business. Florida Distillers is non-core to V&S,” says Mats Andersson, Senior Vice President V&S Business Development.Florida Distillers is a leading manufacturer and marketer of bulk and branded beverage alcohol products, specialty foods and ingredients. The Company also has a contract bottling operation and is the leading producer in the U.S.

Increased sales and continued strong profit for V&S Group during 2006

• Operating profit increased by 10% to SEK 2,275 (2,069) million• Profit after tax increased by 5% to SEK 1,577 (1,505) million• Net sales increased by 8% to SEK 10,345 (9,578) million• Sales volume increased by 3% to 25.7 (24.9) million 9-litres cases• Improved operating profit for all business areas• ABSOLUT VODKA increased its volumes by 7%“It is pleasing that our focus on profitable growth, a better product mix and lower costs is yielding results. All three business areas are reporting increased profitability for the second consecutive year. This demonstrates that we have a

There are no items matching the current filter
There are no more items matching the current filter
Back to top