• April 1, 2008

The French drinks company on Monday was the winner of the auction to buy Sweden's Vin & Sprit, the maker of Absolut vodka, with a bid of $8.9 billion, the Financial Times reported.

Pernod, which also owns brands such as Martell cognac and Jameson Irish whiskey, beat a strong field, including Fortune Brands, which handles the distribution of Absolut in the U.S., Bacardi and EQT, the Swedish private equity firm, to win the four-month auction.

Fortune, which owns the Jim Beam and Maker's Mark bourbon brands through its Beam Global Spirits & Wine subsidiary, said on Monday it planned to continue distributing Absolut in the U.S. for the next four years.

--Nina M. Lentini