Distiller of Absolut is readied for sale

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The distiller of Absolut, the world's No. 2 vodka brand, is being prepared for sale. Vin & Sprit plans to convert its International Brands Division, which houses Absolut vodka, into a new limited company. According to Advertising Age's Daily World Wire, the company will be privatized and sold, with a possible price tag of $1.5 billion to $2 billion. TBWA, New York, has handled the award-winning Absolut advertising account for more than 14 years. Seagram Co. won a multiyear deal for distribution and marketing rights to Absolut for the U.S. and a number of other countries Feb. 1, 1994.

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