V&S: ON THE ROAD TO GROWTH
In response to comments issued by CEO Bengt Baron earlier this week, V&S Group claims it has big plans to drive profits and boost the value of the business. A spokesperson told Justdrinks.com that V&S has been off to a slow start, but is beginning to benefit from its membership in Maxxium and its shared venture in the U.S., Future Brands.
The spokesperson’s comments came after Bengt told the Financial Times that the company is not yet “at its peak.”
However, V&S reportedly believes that its international sales will continue to grow with help from Maxxium and Future. This is good news for all those potential suitors: Pernod Ricard, Brown-Forman, Fortune Brands, Constellation and Anheuser-Busch.
Sales of Absolut rose 7% last year and markets outside the U.S. now account for over half of volumes.
PERNOD MAKES A MOVE. In case you missed it, U.K.-based “The Business” reports that Pernod’s interest in V&S is “more advanced than previously realized.” Apparently, Pernod has already begun to work on the numbers for making a bid.
Says the U.K. publication:
“When asked if Pernod had appointed an investment bank to prepare a bid, a source close to Pierre Pringuet, Pernod's managing director, acknowledged some work had already started in-house. ‘We are used to doing our homework at home,’ said the source.”
However, it’s doubtful that these preliminary steps mean a good deal of a lot, and it remains to be seen if Pernod will actually go ahead with an offer.
The spokesperson’s comments came after Bengt told the Financial Times that the company is not yet “at its peak.”
However, V&S reportedly believes that its international sales will continue to grow with help from Maxxium and Future. This is good news for all those potential suitors: Pernod Ricard, Brown-Forman, Fortune Brands, Constellation and Anheuser-Busch.
Sales of Absolut rose 7% last year and markets outside the U.S. now account for over half of volumes.
PERNOD MAKES A MOVE. In case you missed it, U.K.-based “The Business” reports that Pernod’s interest in V&S is “more advanced than previously realized.” Apparently, Pernod has already begun to work on the numbers for making a bid.
Says the U.K. publication:
“When asked if Pernod had appointed an investment bank to prepare a bid, a source close to Pierre Pringuet, Pernod's managing director, acknowledged some work had already started in-house. ‘We are used to doing our homework at home,’ said the source.”
However, it’s doubtful that these preliminary steps mean a good deal of a lot, and it remains to be seen if Pernod will actually go ahead with an offer.
posted at 1:23 PM
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