The French spirit company Pernod Ricard was successful in outbidding its competitors to obtain the very popular Absolut vodka brand. Pernod Ricard will purchased the Swedish vodka company at a price tage of $8.34 billion dollars.

Based on this successful, Ricard will also “inherit” the debt that comes along with the company - at a tune of over 346 million Euros. The company was sold by auction by the state, with its outstanding debt being one of the reasons. According to Managing Director Pierre Pringuet, “We wanted to bolster our presence in the U.S. and Absolut, with its 5 million cases will definitely do that,” he stated.

Tags: European Economy News //