LVMH boosts spirits portfolio
LVMH Group has announced it has reached an agreement to acquire a 40% interest in Millennium Import Co, an operating division of Phillips Beverage Co of Minneapolis, US
Millennium is the controlling shareholder of the Zyrardow Distillery, Poland. Millennium also owns the exclusive worldwide rights to premium vodka brands Belvedere and Chopin which will be incorporated into Moet Hennessy, the wines and spirits arm of LVMH.
Distribution of the brands outside the US will receive a major boost. Moet Hennessy president Christophe Navarre commented: "This partnership brings together complementary strengths and savoir faire in a market that presents great opportunities for creating value."
Millennium ceo Edward Phillips said "We carefully identified Moet Hennessy as our worldwide partner based upon shared values, culture and know-how. I can't envision a more outstanding opportunity for our people and brands."
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