By David Jones and Martinne Geller
CHICAGO (Reuters) - Two big U.S. wines and spirits groups, Fortune Brands Inc. (FO.N: Quote, Profile, Research, Stock Buzz) and Constellation Brands Inc. (STZ.N: Quote, Profile, Research, Stock Buzz), said they are keen to acquire spirits brands but did not confirm any interest in the parent company for Absolut vodka.
Jim Beam bourbon group Fortune declined comment on Absolut after many analysts have put them as front-runner. The company already distributes the imported Swedish vodka in the United States.
Constellation, meanwhile, said the estimated value of the company as high as $6 billion was too pricey for it.
"In the spirits category, we are interested in acquiring under the right set of circumstances, but we are not commenting on Absolut," Fortune Chief Financial Officer Craig Omtvedt said at the Reuters Food Summit in Chicago on Wednesday.
While the world's biggest wines group Constellation, which owns Robert Mondavi wines and Effen vodka, has been an extremely acquisitive company in recent years, it said the prices being talked about for Absolut were too high.
"Current price estimates are nearing, if not over, $6 billion. At that level we are not interested in Absolut," Constellation Chief Executive Officer Richard Sands said at the same Reuters summit.
Sands said he believed the four front-runners for Absolut to be privately owned Bacardi, Britain's Diageo Plc (DGE.L: Quote, Profile, Research, Stock Buzz), Fortune and Paris-based Pernod Ricard (PERP.PA: Quote, Profile, Research, Stock Buzz).
VERY EXPENSIVE Continued...
© Thomson Reuters 2008. All rights reserved.
| Japan Investment | Jul 01 - 2, 2008 | Country Summits |
| Global Real Estate | Jun 23 - 25, 2008 | Real Estate |
| Consumer and Retail | Jun 16 - 18, 2008 | Consumer Retail |
| Investment Outlook | Jun 09 - 12, 2008 | Financial Services / Exchanges |
| Global Energy | Jun 01 - 5, 2008 | Energy |
