Allied Domecq on track for targets
Kahlua and Courvoisier brands , said onMonday that it was on track
to achieve its annual...
Allied Domecq, the UK wine and spirits group that includes the Kahlua and Courvoisier brands , said onMonday that it was on track to achieve its annual targets as it reported trading in the four months to December 31, the Financial Times reports. Last year the company lost out in the $8.15bn auction for Seagram's drinks business to a joint bid from Pernod Ricard and Diageo. Seagram's drinks division became available after the Canadian media and spirits group merged with Vivendi of France. However, Allied recently secured the US distribution rights for Stolichnaya, the Russian vodka brand and acquired champagne brands G.H. Mumm and Perrier-Jouët for E575m ($528.7m). Shares in the company rose by 5 per cent in afternoon trading to 422p.