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...different country, I don't drink Budweiser anymore. I'll go back to Wild Turkey.' JORDAN MOORE, 21-year-old resident of St. Louis, Mo., on the $52 billion sale of iconic American brewery Anheuser-Busch to InBev NV of Belgium. Wild Turkey is owned by French company Pernod Ricard...

Author: /time Magazine | Title: Verbatim | 7/17/2008 | See Source »

...Russians still account for nearly half of the 1.22 billion gal. (4.6 billion liters) consumed annually, but the rest of the world is catching up fast, and global growth prospects are huge, especially for so-called premium vodkas. "There was no way that an ambitious company like Pernod Ricard could pass up an opportunity to acquire Absolut, even though it has cost them dear," says senior drinks company analyst Jeremy Cunnington of Euromonitor International...

Author: /time Magazine | Title: Stiff Drink | 4/17/2008 | See Source »

...Pernod Ricard paid top dollar for Absolut because it believes its marketing muscle can increase sales from last year's 10.7 million cases. But the economics of producing vodka surely played a part in its calculations. Whisky and brandy spend years maturing in wooden casks before they can be sold, tying up cash in inventory, but vodka is practically an instant money machine. The chemistry is simple: ferment grain or potatoes or even grapes to make alcohol, then concentrate it by distillation. Filter the resulting colorless, odorless spirit, possibly give it a fruit flavor, push out the publicity boat with...

Author: /time Magazine | Title: Stiff Drink | 4/17/2008 | See Source »

...Pernod Ricard's task now is to goose Absolut sales. The vodka has come a long way since production began in 1879 in the southern Swedish town of Ahus. It remained a local brand for a century until 1979, when Russia invaded Afghanistan. Many countries shunned Russian products, including vodka. Absolut saw its chance to go international, and helped by what has become a memorable advertising campaign, it has never looked back...

Author: /time Magazine | Title: Stiff Drink | 4/17/2008 | See Source »

...acquisition of V&S brings Pernod Ricard closer than ever to its goal of catching Diageo. The combined company will have global sales of 91 million cases, compared with Diageo's 93 million. Absolut alone will propel Pernod Ricard from fourth place to second in the North American market, with a 14% market share, compared with Diageo's 26%. Can the former pastis family business become the global drinks leader? The banks that financed the deal in a difficult market show that for some, at least, the answer to that question is Absolut...

Author: /time Magazine | Title: Stiff Drink | 4/17/2008 | See Source »

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