Pernod Ricard Becomes World’s Biggest Spirits Player, Acquires Absolut for $8.3 bn

Pernod Ricard moved an inch further in knocking Diageo (DEO) as the world’s biggest spirits player after inking a neat deal to acquire the Swedish state-owned parent of Absolut vodka for $8.3 billion.

Absolut vodka

During ongoing auction, the French spirits company outbid various others premium vodka globally including U.S.-based Fortune Brands (FO), Absolut’s current distributor. This enables Pernod to climb from fourth to second position among global spirits sellers with its deal with Vin & Spirit. Pernod has been on a quest to top the $200 billion global booze industry. Pernod Ricard’s capacity will rise from 75 million cases to 91 million, and all courtesy for this belongs to Absolut and V&S’s Cruzan rum and Plymouth gin.

Via USAToday
Pernod Ricard

Written By
More from Zolamarquis

Bejeweled Golf Ball Marker For Golf Aficionados, Courtesy Shano

Here is the prospective contender for the choosy race to design world’s...
Read More