VIN & SPRIT STRUGGLE IN Q3

Swedish company Vin & Sprit, makers of Absolut vodka, posted a net profit loss of 6% in its 3rd-quarter earnings today. The recent acquisition of rum producer Cruzan and the purchase of a 10% stake in Beam Global Spirits & Wine (owned by Fortune Brands) negatively impacted the company – especially after Beam acquired several of the Allied brands. Growing U.S. sales of the company’s flagship Absolut vodka helped sustain the company’s spirits business, although things aren’t going to well