Diageo PLC, the world's largest drinks company, said last week it has agreed to buy Irish whiskey brand Bushmills from French group Pernod Ricard SA for $363 million

Food & Drink Weekly, June 13, 2005

Diageo PLC, the world's largest drinks company, said last week it has agreed to buy Irish whiskey brand Bushmills from French group Pernod Ricard SA for $363 million. Diageo said Pernod--which has made a $13.42 billion offer for Britain-based Allied Domecq PLC--had also offered it an option to buy Allied Domecq's Montana wine business if the takeover bid is successful.

Diageo said the acquisition of Bushmills, the world's second-largest Irish whiskey brand, was important as it was a sector of the drinks market in which it did not currently compete. Diageo also will cease discussions with any third parties in connection with Allied Domecq's assets or businesses, and will not acquire or dispose of any shares in Allied without Pernod's consent.