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Pernod Ricard Announces Completion of Acquisition of V&S |
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Friday, 25 July 2008 |
Pernod Ricard, an operator in wine and sprits, announced on Thursday that the company has completed the acquisition of V&S Vin & Sprit AB.
The company said that this follows the decision by the European Commission to authorise Pernod Ricard to acquire 100 percent of the shares in V&S in accordance with the agreements concluded between the Kingdom of Sweden and Pernod Ricard on March 30, 2008.
The transaction is valued at EUR5.69 billion, including debt.
The acquisition of V&S adds Absolut, a premium vodka brand, to Pernod Ricard's portfolio and reportedly makes the company the second-largest player in the US. Also, the addition of the local brands of V&S will add to Pernod Ricard's brand in the Nordic markets.
The company said, that keeping with its decentralised structure, it is putting in place two Swedish-based business units within V&S.
copyright 2008 M2 Communications Ltd
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