France's Pernod Ricard said today it had won an auction to buy Sweden's Vin & Spirit AB, the maker of Absolut vodka, in a deal worth €5.63 billion including debt.
The French company said it expected synergies of up to €150 million before tax, with no impact on earnings per share in the first year after the purchase but "a significantly positive" effect thereafter.
The Swedish government, which currently owns V&S, confirmed the result and said Pernod would keep the company in Sweden.
Pernod Ricard, US spirits maker Fortune Brands, Bermuda-based Bacardi, and Sweden-based private equity group EQT had been in the running to buy the maker of Absolut, the world's third-largest premium liquor in terms of volume.