The deal between Jim Beam and Absolut owner Vin & Sprit does not cover foreign distribution, which has been given to Maxxium Worldwide, a joint venture of Jim Beam, Remy Cointreau and Highland Distributors.
Sweden's V&S is buying stock in Fortune Brands. It will become a fourth and equal partner in Maxxium.
Prior to the deal, Jim Beam had been the country's No. 3 spirits company, after Seagram and UDV. This deal moves it to second place. -- Hillary Chura
Copyright March 2001, Crain Communications Inc.