Cruzan International sells controlling interest to the Absolut Spirits Company
Subsequent to the execution of the Stock Purchase Agreement, V&S assigns all of its rights under the Stock Purchase Agreement to ASCI.
28/09/05 Cruzan International, Inc, producer and distributor of the Cruzan line of rums from the Virgin Islands and a leading distiller of rum and brandy, and importer and marketer of premium branded spirits, has announced that on September 26, 2005, The Absolut Spirits Company, Inc., a Delaware corporation, a wholly-owned subsidiary of V&S Vin & Sprit AB, completed its acquisition of controlling interest in the Company from Angostura, Ltd., pursuant to a previously-announced Stock Purchase Agreement between Angostura and V&S.
Subsequent to the execution of the Stock Purchase Agreement, V&S assigned all of its rights under the Stock Purchase Agreement to ASCI. ASCI purchased all 4,294,583 shares of Cruzan common stock beneficially owned by Angostura, currently representing approximately 63.6% of the Company's outstanding common stock, for an aggregate consideration of $121,837,320.00, or $28.37 per share.
Cruzan International, Inc. is a major supplier of rum, brandy and wine to the beverage alcohol industry. The Company also produces ultra-premium single-barrel aged rums and tropical rums, vinegar and other alcohol-related products.
