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INTERNATIONAL DISTILLERS AND VINTNERS ACQUIRES CINZANO

 INTERNATIONAL DISTILLERS AND VINTNERS ACQUIRES CINZANO
 LONDON, Jan. 3 /PRNewswire/ -- International Distillers & Vintners


Ltd, the Drinks Sector of Grand Metropolitan PLC, has announced that it has agreed to purchase all the outstanding shares in the Cinzano company from the Cinzano Marone family and from IFINT, the investment company of the Agnelli Group, subject to approval by the regulatory authorities.
 IDV will then become the owner of all Cinzano businesses and assets including the brands, production and international distribution network.
 In addition to the Cinzano Vermouth brand which sells over 3.5 million cases world-wide, Cinzano is a major player in the sparkling wine market in Italy and owns the leading Italian brand imported into Germany. Cinzano also has a significant distribution network in Italy, Switzerland, Spain, Argentina, Columbia and Venezuela. In addition, Cinzano is a 33 percent shareholder in IDV's joint ventures in Belgium and Germany.
 Count Francesco Marone Cinzano, who has agreed to retain the position of non-executive president of the company, said, "The relationship between Cinzano and companies of the IDV group such as Gilbeys, dates back more than 50 years. This latest step in the integration of the Cinzano network within the IDV structure, which follows the 1985 one, is aimed at ensuring the growth and development of the Trademark in the future."
 Colin Gordon, President of IDV Europe, said, "The acquisition of Cinzano is the natural marriage of two businesses which have worked closely together since IDV first acquired an interest in 1985. This move further strengthens our distribution position in Europe, giving us direct access to the important Italian market and increases the percentage of IDV brands distributed through IDV companies in Europe to 95 percent.
 "Moreover, the Cinzano Latin American companies including Argentina, Venezuela and Columbia will complement Heublein do Brasil and give IDV a uniquely powerful position in the region.
 "Cinzano wines and vermouths are major brands with great strengths in the UK, Germany, Italy and Eastern Europe. We are delighted that Count Marone has agreed to remain on the board and will be assisting us in the future development of this business."
 The price is not disclosed as it is not material to Grand Metropolitan PLC shareholders' funds.
 -0- 1/3/92
 /CONTACT: Dillon Welchman of IDV, 011-44-81-788-2732 (home); Bill Bullard of GrandMet, 011-44-71-351-2837 (home); or Mary Carroll of GrandMet USA, 212-554-9200 (office)/ CO: Grand Metropolitan PLC ST: Minnesota IN: FOD SU: TNM


KH -- MN012 -- 6576 01/03/92 16:31 EST
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Date:Jan 3, 1992
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