Pernod completes Absolut acquisition

24 July, 2008

Pernod Ricard has completed its acquisition of Vin &Sprit, the Swedish owner of Absolut vodka.

The move follows clearance of the acquisition by the European Commission, and values the company at £4.5 million.

The French spirits giant has set up The Absolut Company as part of its network of brand-owning operations that includes Chivas Brothers, Irish Distillers and Martell Malibu-Kahlua International.

V&S Absolut Spirits president Ketil Eriksen will be chief executive officer of the vodka brand company.

As a result of the Absolut deal, Pernod will end the distribution rights it had for Stolichnaya vodka in the UK and other markets outside Russia.

Patrick Ricard, chief executive officer of Pernod Ricard, said: “This operation will substantially accelerate the growth of both the Absolut brand, which will benefit from the group’s worldwide distribution network, and Pernod Ricard.”




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Lifting the spirits

I were to sum up alcohol sales over Christmas 2017 in one word, it would be “gin”. At Nielsen, we define the Christmas period as the 12 weeks to December 30 and in that time gin sales were £199.4 million, which means they increased by £55.4 million compared with Christmas 2016. There’s no sign the bubble is about to burst either. Growth at Christmas 2016 was £22.4 million, so gin has increased its value growth nearly two-and-a-half times in a year. The spirit added more value to
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