Bacardi to buy Grey Goose, stirring more talk of IPO
The New York Times – 06/21/2004
Bacardi agreed yesterday to acquire the Grey Goose vodka brand, intensifying speculation that the company might be expanding its line of products to prepare for an initial public offering.
The terms of the deal were not disclosed, but executives close to the negotiations said Bacardi had agreed to pay more than $2 billion.
Bacardi, a family-controlled company based in Bermuda, produces its namesake rum as well as Dewar's Scotch whiskey and Bombay Sapphire gin. It reached the deal over the weekend with Sidney Frank Importing of New Rochelle, N.Y., which introduced Grey Goose in 1997.
Sidney Frank Importing was advised on the deal by Michel Dyens & Company, an investment banker. Cravath, Swaine & Moore was primary legal counsel for Bacardi.