Drinks giant Allied Domecq was today toasting the success of spirits such as Ballantine’s whisky and Malibu rum as it issued an upbeat trading statement.

Drinks giant Allied Domecq today conceded defeat in its two-way takeover struggle for control of Australian company Peter Lehmann Wines.

Drinks giant Allied Domecq has held secret merger talks with privately-owned rum distiller Bacardi about a deal which would value the combined group at around £10bn, according to reports today.

Drinks giant Allied Domecq today said strong trading in three of its core regions had helped it absorb the impact of a triple blow to profits.