Absolut-Jim Beam deal imminent?

?UK newspaper reports suggest that Vin & Sprit (V&S) is shortly to announce a distribution deal for Absolut Vodka. As predicted in the February 15 issue of Duty-Free News International, the Swedish company is said to have finalised a deal with Fortune Brands, the US-based owner of Jim Beam Bourbon.

Under the terms of the reported deal, a new company to distribute Absolut in the US will be formed, under the joint ownership of V&S and Fortune. Outside the US, the vodka will be distributed by the Maxxium group, comprising Rémy Cointreau, Fortune Brands, Highland Distillers and--following the Absolut deal--V&S, which becomes the fourth partner in the joint venture. In addition, V&S is reported to have bought a 10% share in Jim Beam with an option to increase its stake in the future.

Further details will follow as an announcement is made.