Fortune Brands will stop distributing Absolut vodka in the U.S. on October 1, more than three years earlier than planned. It will receive $230 million from Pernod Ricard for its decision.
Fortune also will purchase the Cruzan rum brand from Pernod Ricard SA for $100 million. Both deals follow Pernod's $8.3 billion deal announced in April to buy Sweden's Vin & Sprit AB, maker of Absolut. Fortune had submitted what turned out to be a losing bid for Vin & Sprit, which also owned the Cruzan brand.
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