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Industry Changes

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from the Economist magazine: SEAGRAM'S ALCOHOLIC-DRINKS BUSINESS is likely to be sold for as much as $7 billion, as part of the company's merger with Vivendi, a French conglomerate. VIN & SPIRIT, the Swedish firm that distils Absolut Vodka, made the most recent overture. Distribution of Absolut Vodka accounts for 10% or more of Seagram's profits.

+ Britain's DIAGEO and France's PERNOD RICARD plan a joint bid for

Seagram's drinks business. Another British firm, ALLIED DOMECQ, will

attempt an independent takeover.

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I have heard of this sell off and hope they wind up in good hands. If United Distillers treatment of bourbon is the norm then let us all hope the Brits don't get a hold of Four Roses.

Mike Veach

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