LONDON (Brand Republic) – Vin & Sprit, the Swedish owner of the Absolut Vodka brand, is thought to have joined one of the consortia of companies bidding for Seagram’s spirits business.
It is thought the company has joined forces with Bacardi and Brown-Forman, meaning that rival bidders Allied Domecq and the Diageo/Pernod Ricard partnership would be unlikely to inherit Seagram’s prestigious contract to distribute Absolut in the US, even if they won the bid.
Vin & Sprit is thought to be contributing money to a joint bid with privately owned rum company Bacardi and Brown-Forman, the US manufacturer of Jack Daniels and Southern Comfort.
The news comes as the bidders face presentations from the Seagram management. All teams have offered $7bn for the unit, which includes brands such as Captain Morgan rum and Martell Cognac.