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Pricey Absolut vodka was the big prize when Pernod Ricard SA bought Vin & Sprit AB from the Swedish government last year for $8.9 billion. Alas, as the Wall Street Journal reported on Friday, the eve of a major recession is not the best time to pay top dollar for...
Posted on September 4, 2009 9:50 AM
Paul Walsh, CEO of British drinks giant Diageo plc (NYSE:DEO), had a lot to say as the company reported a 7% rise in full-year profit -- the bottom of its target range -- and cut its growth target because of lingering economic concerns. The fact that the maker of Guinness...
Posted on August 28, 2009 8:42 AM
No evidence of it around here, but results just announced by Diageo plc indicate some people are drinking less these days. The owner of brands such as Johnnie Walker, Smirnoff and Guinness reported that due to a dramatic drop in consumer spending in November and December, it is cutting its...
Posted on February 12, 2009 11:41 AM
Fortune Brands Inc. has hired veteran consumer products dealmaker Patrick Koley as senior vice president of strategy and corporate development. Koley joins from ConAgra Foods, where he spent 14 years in a variety of strategy and development positions. Most recently, he was the principal investment officer for ConAgra Commercial and...
Posted on February 10, 2009 9:26 AM
It's easy to see why Fortune Brands would reach for a drink, what with sales in its largest division, home and hardware, getting hammered by the trouble in the U.S. housing market. The more so when the drink in question is top-selling Absolut Vodka, the big prize in the auction...
Posted on March 31, 2008 5:44 PM
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Juergen Lasowski
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