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Macfarlanes

Macfarlanes advises Pernod on €5.6bn Vin & Spirit acquisition

Author: Charlotte Edmond

Published: 10/04/2008 02:58

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Macfarlanes has secured a starring role alongside Debevoise & Plimpton and a number of international firms on Pernod Ricard’s €5.6bn (£4.4bn) acquisition of Swedish vodka maker Vin & Spirit.

Macfarlanes corporate partner Tim Lewis took the lead for Pernod in the UK on the long-running deal, which sees the company buying the owner of the Absolut vodka brand from the Kingdom of Sweden.

New York law firm Debevoise led for the drinks giant in the US and Paris, fielding a team under Manhattan-based M&A co-chair Paul Bird and litigation partner Gary Kubek.

Pernod also instructed Gide Loyrette Nouel in Paris and Brussels with competition partners Antoine Choffel and Stephane Hautbourg advising. Local firm Gernandt & Danielsson advised in Sweden.

Debevoise’s relationship with the client began with a referral by Macfarlanes on 2001’s Seagram acquisition, with both firms subsequently instructed on the Allied Domecq takeover in 2005.

Bird told Legal Week: “They are a great client for us and we have done a number of fun deals for them since being introduced in 2000. Much of their business is US-based and we have been working with them for the last two years on their vodka projects.”

The firms worked with Pernod’s legal team, led by general counsel and vice president Ian Fitzsimons.

Sweden’s Vinge took the key role for the Kingdom of Sweden, putting together a team under corporate partners Carl Gustaf De Geer and Bertil Villard. They were assisted in the US by Davis Polk & Wardwell corporate partner Phillip Mills.

Vin & Spirit also took advice from Dechert and McDermott Will & Emery, with Dechert corporate partner Douglas Getter advising on corporate and competition matters, while McDermott was instructed on intellectual property and regulatory issues.

Pernod will become joint leader in the wine and spirits industry after taking on Vin & Spirit for €5.3bn (£4.2bn) plus assumed debt of €346m (£272m). This is the latest in a stream of takeovers by Pernod, which owns brands including Beefeater Gin, Mumm and Perrier-Jouet champagnes and Jacob’s Creek wines. In 2001 it bought part of Seagram alongside fellow drinks giant Diageo, with the Allied Domecq deal following four years later.

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