Bacardi seeks to add Absolut to its stable

Bacardi-Martini, Inc., the company best known for its top-selling rum, is seeking to add Absolut vodka to its stable of brands.
Bermuda-based Bacardi has informed the Swedish government that it would like to acquire Vin & Sprit AB, the state-owned liquor group that may soon be up for sale as part of a privatization
plan.
Bacardi’s interest was reported Monday in the Financial Times. Pat Neal, a company spokeswoman in Miami, confirmed the report in a statement.
“Bacardi wants a global premium vodka and to acquire a brand with the international status of Absolut would be terrific,” Neal said.
A deal would also make sense, Neal said, because Vin & Sprit V&S is strong in Northern Europe and Bacardi is strong in Southern Europe.
“A merger between the two would be about seizing natural growth opportunities,” she said.
A proposed purchase price was not disclosed.
Privately held Bacardi includes such brands as Bacardi rum, Grey Goose vodka and Dewar’s scotch whisky.

Associated Press