EX-99.1
2
a06-7479_4ex99d1.htm
EXHIBIT 99
Exhibit 99.1
CONTACT:
Jeffrey Moran,
212.641.8720
jeffrey.moran@absolut.com
ABSOLUT
COMPLETES ACQUISITION OF CRUZAN RUM
NEW YORK - March 22, 2006 - The Absolut Spirits Company, Incorporated
("ASCI"), a subsidiary of V&S Group, the Swedish-based international
spirits and wine company, announced today that it has completed its acquisition
of Cruzan International, Inc. ("Cruzan") (AMEX: RUM). At a meeting of the
stockholders of Cruzan on Friday, March 17, 2006, ASCI's merger proposal
was formally approved by Cruzan's stockholders, and the merger was completed
today.
Upon the completion of the merger, each issued and outstanding share of
Cruzan common stock not owned by ASCI was converted into the right to receive
$28.37 in cash. Details of the exchange procedures, including letters of
transmittal, will be sent to Cruzan stockholders in the next week by the paying
agent engaged by ASCI. In connection with the completion of the merger, Cruzan
has delisted its common stock from The American Stock Exchange.
About Absolut Spirits Company
The Absolut Spirits Company, Incorporated, headquartered in New York,
is a subsidiary of V&S Group, a leading producer and distributor of spirits
and wines and one of the world's ten largest international spirits companies. The
product portfolio of V&S Group includes its own brands for local, regional
and international sales, as well as agency products. V&S Group's most
important brand is ABSOLUT which is the world's third largest international
spirits brand.
About Cruzan
Cruzan International Inc., headquartered in West Palm Beach, Florida,
is a major producer and supplier of rum, brandy and wine to the beverage
alcohol industry. Cruzan also produces ultra-premium single-barrel aged rums
and tropical rums, vinegar and other alcohol-related products.
# # #
CAUTIONARY
STATEMENT REGARDING FORWARD-LOOKING STATEMENTS: Except for historical
information, the matters discussed in this press release are forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995, as amended. Forward-looking statements, including without limitation
all of the projections and anticipated levels of future performance, involve
risks and uncertainties which may cause actual results to differ
materially from those discussed herein. These risks and uncertainties are
detailed from time to time by Cruzan in its filings with the United States
Securities and Exchange Commission ("SEC"), including without limitation its
most recent filing on Form 10-K, filed on January 11, 2006, and its
10-Q and 8-K filings made from time to time. You are strongly urged to review
all such filings for a more detailed discussion of such risks and
uncertainties. Cruzan's SEC filings are readily obtainable at no charge at
www.sec.gov
and at
www.freeEDGAR.com
,
as well as on a number of other commercial web sites.

EX - 99 . 1 2 a06 - 7479 _ 4ex99d1 . htm EXHIBIT 99 Exhibit 99 . 1 CONTACT : Jeffrey Moran , 212 . 641 . 8720 jeffrey.moran@absolut.com ABSOLUT COMPLETES ACQUISITION OF CRUZAN RUM NEW YORK - March 22 , 2006 - The Absolut Spirits Company , Incorporated ( " ASCI " ) , a subsidiary of V & S Group , the Swedish - based international spirits and wine company , announced today that it has completed its acquisition of Cruzan International , Inc . ( " Cruzan " ) ( AMEX : RUM ) . At a meeting of the stockholders of Cruzan on Friday , March 17 , 2006 , ASCI 's merger proposal was formally approved by Cruzan 's stockholders , and the merger was completed today . Upon the completion of the merger , each issued and outstanding share of Cruzan common stock not owned by ASCI was converted into the right to receive $ 28.37 in cash . Details of the exchange procedures , including letters of transmittal , will be sent to Cruzan stockholders in the next week by the paying agent engaged by ASCI . In connection with the completion of the merger , Cruzan has delisted its common stock from The American Stock Exchange . About Absolut Spirits Company The Absolut Spirits Company , Incorporated , headquartered in New York , is a subsidiary of V & S Group , a leading producer and distributor of spirits and wines and one of the world 's ten largest international spirits companies . The product portfolio of V & S Group includes its own brands for local , regional and international sales , as well as agency products . V & S Group 's most important brand is ABSOLUT which is the world 's third largest international spirits brand . About Cruzan Cruzan International Inc . , headquartered in West Palm Beach , Florida , is a major producer and supplier of rum , brandy and wine to the beverage alcohol industry . Cruzan also produces ultra - premium single - barrel aged rums and tropical rums , vinegar and other alcohol - related products . # # # CAUTIONARY STATEMENT REGARDING FORWARD - LOOKING STATEMENTS : Except for historical information , the matters discussed in this press release are forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 , as amended . Forward - looking statements , including without limitation all of the projections and anticipated levels of future performance , involve risks and uncertainties which may cause actual results to differ materially from those discussed herein . These risks and uncertainties are detailed from time to time by Cruzan in its filings with the United States Securities and Exchange Commission ( " SEC " ) , including without limitation its most recent filing on Form 10 - K , filed on January 11 , 2006 , and its 10 - Q and 8 - K filings made from time to time . You are strongly urged to review all such filings for a more detailed discussion of such risks and uncertainties . Cruzan 's SEC filings are readily obtainable at no charge at www.sec.gov and at www.freeEDGAR.com , as well as on a number of other commercial web sites .