Once the final details are thrashed out , Pernod Ricard will have acquired the 11 million 9-litre case Absolut brand in a deal with the Swedish government to acquire the state monopoly Vin & Sprit.

Absolut sales grew by 9 per cent in 2006-07, representing a slight slowdown in the face of tough competition from other premium vodkas, but two new campaigns are rolling out to boost its position through 2008.

For the 30th anniversary of the creation of the rainbow flag, Absolut will be targeting gay communities with a new global initiative, Absolut Colors, of a pack containing a second-skin rainbow bottle and a drinks book, backed by an on-line campaign targeting the lesbian, gay, bisexual and transgender community.

In addition, another recently launched series within the ongoing In An Absolut World global campaign stresses the natural ingredients and attention to detail in the vodka-making process that underlies the taste and mixability of Absolut vodka and Absolut flavours.

The Vin & Sprit acquisition will push Pernod Ricard to second position in the global US$200 billion booze business and boosts its bid to become No1.