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Examples
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The 25% stakes held by each Vin & Sprit and Rémy will be redeemed March 30 by Maxxium for €60.4 million.
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France-based Pernod Ricard and domestic rival Rémy Cointreau SA said in separate statements that the four partners of Maxxium had agreed to prematurely end the distribution venture as of October.
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The Maxxium contracts had provided for an exit by Vin & Sprit from distribution after two years following its acquisition by Pernod, together with the payment of a fee.
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The French spirits company Pernod Ricard SA surprised the market by unexpectedly announcing it had taken control of all distribution of V&S brands from Maxxium.
Recession Fears Drag on European Stocks Andrea Tryphonides 2008
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As compensation, the company will pay Maxxium a fee of €59 million Oct. 1, while Rémy will pay €224 million in March.
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Pernod Ricard SA, one of the world's biggest wine and spirits companies, will take full control of the distribution of its Vin & Sprit brands, including Absolut Vodka, by ending its Maxxium distribution agreement.
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The French spirits company said full-year results had been delayed because shareholders failed to agree on the valuation of goodwill on the balance sheet of its Maxxium distribution network, which Rémy is exiting.
Rémy Cointreau Posts 2008
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Fortune already distributes Absolut in the U.S. and shares control with Vin & Sprit of its Maxxium international-distribution joint venture.
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Today, she is a full-time spirits and mixology trainer with Maxxium, a global alcohol distribution company based in London.
The Globe and Mail - Home RSS feed Deirdre Kelly 2011
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Today, she is a full-time spirits and mixology trainer with Maxxium, a global alcohol distribution company based in London.
The Globe and Mail - Home RSS feed Deirdre Kelly 2011
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