WHISKY maker Edrington is set to consider its future with global drinks distributor Maxxium as global drinks giants Pernod Ricard and Remy Cointreau announced they are to withdraw their brands from the consortium.
Pernod Ricard confirmed yesterday that is to pull its Vin & Spirit brands, in particular Absolut Vodka, from the Maxxium distribution group from October, while Remy will leave the alliance next March.
The decision leaves Glasgow-headquartered E
drington Group – which makes Highland Park and Famous Grouse – and US firm Beam Global as the only partners in Maxxium.
But a spokesman for the Scottish firm said a seven-month consultation was underway to decide on its future in the group.
Edrington yesterday announced a new phase of the alliance between itself and Beam, which manufactures Jim Beam whisky, and said it is likely to withdraw from around 40 of Maxxium's current distribution markets in March, focusing on just 24 core markets worldwide.
A spokesman for Edrington said: "The new alliance will enable us to become much more focused in 24 markets which are either major export territories or hold high potential for future growth."
Rémy Cointreau will pay Maxxium an indemnity fee of 224 million (£182.4m) in March under terms to end the contract, while Remy's 25 per cent equity stake in Maxxium will be redeemed for 60.4m at the same time. Under similar terms, Pernod Ricard will pay Maxxium a fee of 59m in October, while its quarter share will be redeemed for 60.4m in March.
The full article contains 257 words and appears in The Scotsman newspaper.
