Update on Absolut
Binding offers for V&S were due today, so it could be just a matter of time before the winning bidder is revealed. The four bidders include Fortune Brands, Pernod Ricard, Bacardi and Swedish private equity group EQT which is working with investment firm Investor.
"All four have submitted bids and we would expect a winner to be picked in around three weeks time," said a source told Reuters.
Since yesterday we’ve learned that private equity firm Ratos has joined forces with Bacardi in its bid for V&S, according to the Swedish media. Ratos is reportedly interested in V&S’ Distillers and Wines divisions, while Bacardi wants Absolut.
Reports also surfaced earlier this week that Fortune joined with private equity group Nordic Capital in its bid for Absolut. Nordic would get Vin & Sprit’s Distiller and Wines, and Fortune gets Absolut.
Sweden's Fourth AP Fund, part of the country's pension system, said separately it was backing EQT's and Investor AB's bid for Vin & Sprit.
"The only thing I can say is that if it goes through, it will be one of the Fourth AP Fund's biggest single investments," Mats Andersson, the top executive of the Fourth Swedish National Pension Fund, told Reuters.
Again, analysts expect roughly $6 to $7 billion for V&S.
Sources have said that Swedish private equity group EQT hopes to play the “Swedish card” to win V&S, claiming the company would benefit more from a domestic company than a foreign one. Not only is Absolut a Swedish icon, but the government has expressed that it would like to keep production in Sweden to help preserve jobs. Sources tell Reuters that that EQT, in partnership with Investor AB, has offered to let the government share any profit resulting from a subsequent sale or bourse listing of the spirits group.
While the idea of keeping V&S in Swedish hands may have its advantages, most analysts seem to think the government will choose the company or group with the highest bid. Fortune already has a relationship with V&S through its Maxxium j-v and Future Brands j-v in the U.S., and may perhaps be the strongest contender along with help from Nordic.
RED BULL LAUNCHES NEW COLA EXTENSION
Red Bull is launching new Red Bull Cola in Las Vegas in June, reports Brandweek, after it has fallen second behind Monster as the top energy drink in terms of sales volume. Red Bull Cola will be 100% natural, unlike Coke and Pepsi, and sale at a premium price.
It will be available in 8.4-oz cans at bars, clubs and restaurants, as well as 12-oz. cans at grocery and convenience stores. Pricing was not revealed.
FROMMER’S RECOMMENDS AMERICAN WHISKEY TRAIL
Frommer’s has named the American Whiskey Trail as one of the "Top Destinations for 2008.” The trail begins with Mount Vernon and shows the role spirits have played in American history, from the colonial era, to the Whiskey Rebellion, through Prohibition and into contemporary society. It includes many of America’s most famous operating distilleries as well as important historic sites.
There are a total of eight distilleries that offer tours of their whiskey-making process, and two more that show the rum-making process. For more information visit: www.americanwhiskeytrail.com.
WSD BRIEFS:
360 VODKA is launching its new “Blend In. Stand Out” campaign, which primarily focuses on its environmental message. The campaign will have multiple phases, starting with the outdoor and print advertising that was launched in conjunction with the 2008 Sundance Film Festival. In addition, print and online placements will be appearing in 10 major metropolitan areas, including New York, Los Angeles, San Francisco, Seattle and Austin.
NAPA VALLEY VINTNERS has launched Napa Green Certified Winery (NGCW), a program to help reduce carbon footprint by developing “green” business practices for winery production facilities in Napa County. NGCW is now open to all wineries in Napa County after running a pilot program last year. To learn more about it, click here.
Until tomorrow, Megan
“Humor is everywhere, in that there's irony in just about anything a human does.”
Bill Nye
--------- Sell Day Calendar ----------
Today's Sell Day: 19
Sell days this month: 21
Sell days this month last year: 22
This month ends on a: Mon.
This month last year ended on a: Fri.
YTD sell days Over/Under: +1
"All four have submitted bids and we would expect a winner to be picked in around three weeks time," said a source told Reuters.
Since yesterday we’ve learned that private equity firm Ratos has joined forces with Bacardi in its bid for V&S, according to the Swedish media. Ratos is reportedly interested in V&S’ Distillers and Wines divisions, while Bacardi wants Absolut.
Reports also surfaced earlier this week that Fortune joined with private equity group Nordic Capital in its bid for Absolut. Nordic would get Vin & Sprit’s Distiller and Wines, and Fortune gets Absolut.
Sweden's Fourth AP Fund, part of the country's pension system, said separately it was backing EQT's and Investor AB's bid for Vin & Sprit.
"The only thing I can say is that if it goes through, it will be one of the Fourth AP Fund's biggest single investments," Mats Andersson, the top executive of the Fourth Swedish National Pension Fund, told Reuters.
Again, analysts expect roughly $6 to $7 billion for V&S.
Sources have said that Swedish private equity group EQT hopes to play the “Swedish card” to win V&S, claiming the company would benefit more from a domestic company than a foreign one. Not only is Absolut a Swedish icon, but the government has expressed that it would like to keep production in Sweden to help preserve jobs. Sources tell Reuters that that EQT, in partnership with Investor AB, has offered to let the government share any profit resulting from a subsequent sale or bourse listing of the spirits group.
While the idea of keeping V&S in Swedish hands may have its advantages, most analysts seem to think the government will choose the company or group with the highest bid. Fortune already has a relationship with V&S through its Maxxium j-v and Future Brands j-v in the U.S., and may perhaps be the strongest contender along with help from Nordic.
RED BULL LAUNCHES NEW COLA EXTENSION
Red Bull is launching new Red Bull Cola in Las Vegas in June, reports Brandweek, after it has fallen second behind Monster as the top energy drink in terms of sales volume. Red Bull Cola will be 100% natural, unlike Coke and Pepsi, and sale at a premium price.
It will be available in 8.4-oz cans at bars, clubs and restaurants, as well as 12-oz. cans at grocery and convenience stores. Pricing was not revealed.
FROMMER’S RECOMMENDS AMERICAN WHISKEY TRAIL
Frommer’s has named the American Whiskey Trail as one of the "Top Destinations for 2008.” The trail begins with Mount Vernon and shows the role spirits have played in American history, from the colonial era, to the Whiskey Rebellion, through Prohibition and into contemporary society. It includes many of America’s most famous operating distilleries as well as important historic sites.
There are a total of eight distilleries that offer tours of their whiskey-making process, and two more that show the rum-making process. For more information visit: www.americanwhiskeytrail.com.
WSD BRIEFS:
360 VODKA is launching its new “Blend In. Stand Out” campaign, which primarily focuses on its environmental message. The campaign will have multiple phases, starting with the outdoor and print advertising that was launched in conjunction with the 2008 Sundance Film Festival. In addition, print and online placements will be appearing in 10 major metropolitan areas, including New York, Los Angeles, San Francisco, Seattle and Austin.
NAPA VALLEY VINTNERS has launched Napa Green Certified Winery (NGCW), a program to help reduce carbon footprint by developing “green” business practices for winery production facilities in Napa County. NGCW is now open to all wineries in Napa County after running a pilot program last year. To learn more about it, click here.
Until tomorrow, Megan
“Humor is everywhere, in that there's irony in just about anything a human does.”
Bill Nye
--------- Sell Day Calendar ----------
Today's Sell Day: 19
Sell days this month: 21
Sell days this month last year: 22
This month ends on a: Mon.
This month last year ended on a: Fri.
YTD sell days Over/Under: +1
posted at 1:32 PM
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