POLAND: Agros defends position as non-bidder in vodka privatisation

By Chris Brook-Carter | 10 October 2000

Agros, the Polish food and beverage group controlled by Pernod Ricard, is staying out of the sale of Polish distillery Polmos Poznan because it needs to focus on restructuring and food branch development, its board has said.

Agros Holding vice president Olivier Guelaud said: "It is not the best moment to initiate a buying process; all the more so because as Agros operates in a distribution sense…if we were to take part in the privatisation process, we would have to pay attention to the domestic market."

Pernod Ricard, however, is taking part in the sale and is already on a shorlist of three for the distiller that produces Wyborowa. And, Gueland's comments come in response to claims from Agros minority shareholder Highwood Partners that Agros is being unfairly prevented from bidding.

Highwood has demanded that the Treasury delay the privatisation process, saying, "Agros already holds the rights to Polish vodka brands abroad, which places the company in an exceptional position among tender participants and represents a historic opportunity to unite the domestic and international rights to Poland's premier vodkas."

Meanwhile, details of Pernod Ricard's plans for Poznan have been reported in the Polish press. The French company is apparently aiming to increase its Polish vodka exports from the current 500,000 nine-litre cases annually to 1m and eventually 2m cases a year.

This strategy is part of Pernod's offer for the second phase of Polmos Poznan's privatisation tender.

Companies: Pernod

View next/previous articles

Currently reading -

POLAND: Agros defends position as non-bidder in vodka privatisation

There are currently no comments on this article

Be the first to comment on this article

Related articles

UK: Press round up – AD, Pernod & Fortune - Day 10

Maxxium Worldwide could come under pressure if Pernod and Fortune's Allied Domecq bid is successful, according to press reports today (14 April).

Quote, unquote: The Allied/Pernod story in soundbites

As Pernod Ricard, Allied Domecq and Fortune Brands close in on the biggest drinks industry deal since the sale of Seagram, opinion about how the deal will be structured and who stands to win and lose remains divided. Just-drinks looks at who has said what since the saga began.

UK: Press round up. AD, Pernod & Fortune - Day 8

It's been a quiet day on the Pernod/Allied Domecq front.

just-drinks tagline

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page