Bacardi 'eyes Absolut Vodka bid'

Message in a bottle: Absolut could be sold.

The maker of the world's biggest rum brand, Bacardi, has expressed in an interest in buying the company that makes Absolut Vodka, a report says.

Last week the Swedish government, which owns Absolut-maker Vin and Sprit (V&S), applied to parliament for permission to sell the firm.

In state hands for 90 years, V&S is reportedly worth $5.7bn (£2.97bn).

The head of Bermuda-based Bacardi told the Financial Times that Absolut would be a "jewel" for the firm.

"V&S and Absolut especially would be a terrific fit for Bacardi," the chief executive of Bacardi, Andreas Gembler, told the paper.

"Of the few global brands that are really left to acquire, V&S - and in particular Absolut - obviously represents a jewel for a company like ours," he said.

Foothold

The BBC has learned that the Swedish parliament is unlikely to grant the mandate for V&S to be sold until May, with the sale expected to be a lengthy process.

Private equity groups as well as other drinks firms including Diageo are reported to be contemplating an offer.

With a turnover of about 1bn euros ($1.3bn; £680m), V&S employs 2,500 people in 10 countries. Absolut is the world's third-biggest-selling vodka brand.

In 2004, Bacardi got a foothold in the premium vodka market, buying the Grey Goose label.