Cruzan is Absolut-ly sold
News item: Absolut Spirits Co. has purchased Cruzan International.
It's a geographic puzzle come together: Absolut, the New York-based subsidiary of Swedish spirits and wine company V&S Group (distillery seen here), buying the West Palm Beach, FL, rum producer and distributor and rum and brandy distiller.
The bigger part of the puzzle, by the way, cost $28.37 per Cruzan share it did not already own. A U.S. Securities and Exchange Commission filing puts that as worth about $80 million. Angostura owned 68% of Cruzan.
Cruzan has long been a maker and distributor of premium rums and flavored rum-based drinks. Among the products: Cruzan Rum and rum flavored with banana, pineapple, orange, mango, raspberry, coconut, vanilla and citrus.
Absolut has a wide range of flavored vodkas -- mandarin, vanilla, raspberri, pepper, kurant, apple, peach, etc.
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Posted by William M. Dowd at 10:53 PM