BEAM ACQUIRING ABSOLUT: “A NATURAL AND LOGICAL STEP.”
Fortune Brand’s ceo Norm Wesley wants Vin and Sprit and wants it bad, according to Swedish daily Dagens Industri. The publication confirms that Norm met with “key persons in the sale process” last week while in Sweden and has him quoted as saying the following:
"We have cooperated for a long time with Vin & Sprit ... It would be a natural and logical step after our close cooperation if we bought Vin & Sprit.”
Very true. Beam Global currently distributes Absolut in the U.S. and Europe and joins V&S in the Maxxium j-v. V&S also holds a minority stake in Fortune's spirits and wine business.
As most of us know, Beam Global doesn’t have a leading vodka brand but Norm claims he is interested in more than just Absolut.
"Absolut would be our biggest brand. But we are also very interested in other brands in Vin & Sprit's portfolio, such as Plymouth Gin and Cruzan Rom," said Fortune’s chief. "We have the financial flexibility to buy all or parts of Vin & Sprit, depending on how the Swedish government decides to do the sale."
Analysts are estimating that V&S could go for as high as $5 billion to $6 billion.
"We have cooperated for a long time with Vin & Sprit ... It would be a natural and logical step after our close cooperation if we bought Vin & Sprit.”
Very true. Beam Global currently distributes Absolut in the U.S. and Europe and joins V&S in the Maxxium j-v. V&S also holds a minority stake in Fortune's spirits and wine business.
As most of us know, Beam Global doesn’t have a leading vodka brand but Norm claims he is interested in more than just Absolut.
"Absolut would be our biggest brand. But we are also very interested in other brands in Vin & Sprit's portfolio, such as Plymouth Gin and Cruzan Rom," said Fortune’s chief. "We have the financial flexibility to buy all or parts of Vin & Sprit, depending on how the Swedish government decides to do the sale."
Analysts are estimating that V&S could go for as high as $5 billion to $6 billion.
posted at 1:49 PM
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