Rémy Cointreau today announced that they plan to terminate its distribution agreement with Maxxium - V&S Group’s distribution joint venture outside the US and the Nordic countries - with effect from March 30, 2009.

The main reason for Rémy Cointreau’s decision is that this will enable them to consider alternative distribution options in Remy priority markets such as Asia.

The three remaining partners are confident that, as a result of the strengthening of Maxxium from a compensation payment from Rémy Cointreau and through new brand introductions, Maxxium will remain a strong and highly effective business moving forward. Also, the advance notice provides ample time for the Maxxium partners to successfully manage the transition.

Maxxium is the distilled spirits distribution joint venture of Rémy Cointreau, Beam Global Spirits and Wine, The Edrington Group and V&S Group. It handles the distribution of V&S Group’s products on approximately 30 markets outside the US and Nordic.

"V&S Group has been very pleased with the business development within Maxxium and we do not expect Rémy Cointreau’s eventual departure to negatively impact our performance. It is important to recognize that Rémy Cointreau’s brands only account for 15% of the case volume of Maxxium. In fact, Maxxium will still be significantly larger than it was when the alliance was created in 1999 even after the exit of Rémy Cointreau”, says Bengt Baron. CEO of V&S Group.

“Given the combined strength of the brands of V&S Group, The Edrington Group, and the recently enhanced portfolio of Beam Global Spirits and Wine, the remaining partners are confident that Maxxium will continue to be a successful route to market around the world,” Bengt Baron concludes.

Further information
Jacob Broberg, Senior Vice President Corporate Affairs & Communications,
+46 8 744 70 33, mobile +46 (0)70-190 00 33,
e-mail

V&S Media Hot Line +46 8 744 73 80