Pernod looks to state-side partner for potential Allied bid

From The Publican

14-Feb-2005

Related topics: Company & City News

Following the flurry of speculation that Pernod Ricard is preparing a takeover bid for Allied Domecq, further reports have emerged that it may be lining up an American backer.

 

The company is understood to be in talks with Fortune Brands, the American group which owns Dalmore whisky and Jim Beam bourbon, with a view to raising enough cash to bankroll an offer.

 

Pernod is a similar size to Allied and is expected to need a partner for any deal of this size, according to City sources.

 

A joint offer with Fortune Brands would also help overcome some of the problems with the need to shed competing brands from the Allied stable.

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