Cruzan Rum has been produced on St Croix in the US Virgin Islands since 1760. Cruzan Rum offers both light and dark rum and has a wide range of flavoured rumsSWEDEN. V&S Group, the Swedish wine and spirits company, today announced the acquisition of the majority of shares in Cruzan International Inc.
Cruzan International owns Cruzan Rum, the fastest-growing brand in the rapidly increasing rum segment, according to V&S. V&S Group is the exclusive distributor for Cruzan Rum in Northern Europe, Canada and in the global duty free market.
Cruzan Rum has been produced on St Croix in the US Virgin Islands since 1760. Cruzan Rum offers both light and dark rum and has a wide range of flavoured rums.
Cruzan International is listed on the AMEX stock exchange. V&S Group is acquiring 67.8% of the outstanding shares of Cruzan International Inc from Angostura Ltd for US$122 million. V&S Group said it intended to offer the minority shareholders equitable treatment.
“We are very excited to add this growth brand to our portfolio of international sprits brands,” said V&S Group CEO Bengt Baron. “Rum is a hot segment and the international potential of the Cruzan brand is tremendous. We have carried it successfully in some markets as a distributor and are pleased to increase our active involvement in Cruzan Rum and to continue its rapid expansion globally.”
About V&S Group
V&S Group is a Swedish-owned leading producer and distributor of spirits and wine in Northern Europe, and one of the world’s ten largest international spirits companies. The portfolio includes own brands for local, regional and international sales, as well as agency products. The group has operations in 12 countries and worldwide distribution on about 125 markets. The most important brand is Absolut, the third largest premium spirits brand in the world. The group has about 2,200 employees and sales in 2004 were SEK9.3 billion.
For further information on duty free and travel retail, contact Erik Juul-Mortensen, President, Global Duty Free, V&S Absolut Spirits, tel: +45 40732424.
MORE STORIES ON V&S GROUP
V&S Group unveils new exhibition approach as it brings a new Level to duty free – 21/04/04
V&S to handle Cruzan Rum in duty free through Maxxium – 18/03/04
