Finally, the Swedish state has sold V&S Vin & Sprit, the producer of Absolut Vodka. After an outdrawn bidding process the French company Pernod Ricard has come out as the winner. They will be paying SEK 55 billion (€5.62bn). They outbid Bacardi, Fortune Brands (the Absolut distributor in the US) and EQT (a private equity group in Sweden). The importance of the deal is of course the brand Absolut, one of the best selling vodkas in the world. With the acquisition Pernod Ricard with become the second biggest spirits producer in the world. Read more in the Financial Times.
(A historical note: Vin & Sprit used to be the monopoly importer in Sweden. In the 90s, when the monopoly for importing wines and spirits was abolished, it became a still state owned importer on a competitive market. It was already the owner of the Absolut brand – an old Swedish vodka brand. It is still a wine and spirits importer but the Absolut accounts for the vast majority of revenues and profits. In parallel Sweden has retained its monopoly for wine and spirits retail. The retail monopoly is managed by the chain of stores called “Systembolaget”.)
