V&S Group, owner and producer of ABSOLUT VODKA, has acquired the remaining shares of Cruzan International, which produces the Cruzan Rum brand. Cruzan International has become part of V&S Group and has delisted its common stock from The American Stock Exchange.

Cruzan Rum is the fastest growing brand in the rapidly increasing rum segment of the spirits industry. Cruzan Rum offers both light and dark rum as well as a wide range of flavored rums. The brand has been produced on the island of St Croix in the US Virgin Islands since 1760.

“We are extremely satisfied to have completed this acquisition successfully,” says Bengt Baron, Chief Executive Officer of V&S Group. “Cruzan Rum is a fast growing brand with tremendous potential and it fits very well into our portfolio of international premium spirits. The rum category is increasing rapidly and we will enhance Cruzan’s participation globally.”

In June 2005, V&S acquired two-thirds of the shares in Cruzan International from the majority owner Angostura Ltd. for approximately USD 122 million or USD 28:37 per share. The other shareholders were also offered USD 28:37 per share. The merger of Cruzan International has been approved by a majority of the unaffiliated stockholders of Cruzan International and the acquisition is now completed. The total amount for the acquisition is USD 202 million.

Further information

Margareta Nyström, Vice President Communications,V&S Group, phone +46 70 698 7198,

Peeter Luksep, Director Corporate Affairs, V&S Group, phone +46 70 723 4128,