Alert: Pernod and Fortune Agree to Early Termination for Absolut

Fortune Brands and Pernod Ricard today announced an agreement under which Fortune will receive compensation in exchange for early termination of the company's distribution agreement with Pernod's Absolut vodka and other brands.Under the agreement, Pernod Ricard will pay Fortune Brands $230 million in pre-tax proceeds, and Fortune Brands will turn around and pay $100 million back to Pernod to acquire the Cruzan Rum brand. The agreement will result in the termination as of October 1st of the U.S. distribution agreement