V&S Absolut Spirits strengthens its international product portfolio
In March 2006, V&S Group completed its acquisition of Cruzan Rum. On July 3, V&S Absolut Spirits takes control of the rapidly growing global brand by including it in the Future Brands LLC sales portfolio. In addition, The Absolut Spirits Company, Inc., V&S Absolut Spirits’ American subsidiary, assumes importing and marketing duties for the brand.
In the American market’s fast growing rum segment, Cruzan Rum is one of the fastest growing and was awarded the Adams Beverage Group’s Growth Brand in 2005. Cruzan Rum has its roots on the Caribbean island of St Croix, where both light and dark rum have been produced since 1760. In June 2005, V&S Group acquired 2/3 of the shares in Cruzan International. This acquisition was completed in March 2006, when V&S Group gained control of all shares in the company. The entire company has since been integrated into V&S Absolut Spirits, the business area within V&S Group, which is responsible for production and marketing of the international product portfolio, including ABSOLUT VODKA.
“Taking over distribution of Cruzan Rum on the important American market gives Future Brands LLC an even stronger product portfolio, something that all the brands in the portfolio will benefit from. And it gives Cruzan Rum significantly improved distribution in the US,” says Ketil Eriksen, President for the business area, V&S Absolut Spirits.
Cruzan Rum is a brand with tremendous international potential. V&S Absolut Spirits is studying the possibility of introducing Cruzan Rum on markets outside the US. There may be launches on new markets as early as next year.
In addition, Future Brands LLC is also taking over sales and distribution of V&S Absolut Spirits’ standard vodka, FRÏS Vodka, from Shaw-Ross International Importers. FRÏS Vodka is produced in Denmark by V&S Absolut Spirits and is available only in the US.
Future Brands LLC is a sales and distribution company for the US market, which is jointly owned by V&S Absolut Spirits’ American subsidiary, The Absolut Spirits Company, Inc., and Beam Global Spirits and Wine, Inc. Future Brands LLC already distributes ABSOLUT VODKA, Level Vodka and Plymouth Gin in the US. Future Brands LLC’s product portfolio also contains a number of well-known spirits from Beam Global’s portfolio.
Further information
Kristina Hagbard, Manager, V&S Absolut Spirits, +46-8-744 71 88, +46-70-572 71 88, email: kristina.hagbard@absolut.se