Pernod, Allied confirm talks over possible Pernod takeover bid
April 05, 2005
by FoodBusinessNews.net Staff
PARIS — French drinks group Pernod Ricard S.A. is in talks with Allied Domecq P.L.C. over a possible takeover bid for its British rival, both companies said today.
Allied Domecq, whose businesses include Dunkin' Donuts and Baskin-Robbins, issued a statement confirming it was in discussions with Pernod about a possible takeover that would also involve U.S. rival Fortune Brands, Inc.
Pernod Ricard said it is considering an offer for Allied Domecq and is working closely with Fortune Brands. Discussions with Allied Domecq are at an early stage, and there can be no certainty that an offer for Allied Domecq will be forthcoming, Pernod officials said.
Investors have long expected consolidation among drinks companies such as Allied and Pernod, whose combined sales amount to two-thirds of those of Diageo P.L.C., the world's largest drinks company, according to the Associated Press.