FRANCE: Belvédère coy on Sobieski vodka sale talk
Belvedere has declined to say whether its Sobieski vodka is among its brands up for sale, following a report that the group has received interest in its star product.
Yesterday (27 February) France's Les Echos business newspaper cited unnamed sources as saying that several trade and investment groups have requested detailed information on Sobieski. Belvedere needs to sell assets to cut debt and ensure the firm's survival.
When contacted by just-drinks today, a Belvedere spokesperson said that “one or two brands of the group's brands are up for sale”, but he declined to name them. He said: "There will always be speculation around the sale of Sobieski as it is one of Belvédère's most valuable brands and could contribute significantly to debt reduction.
"But it is only speculation. We are not prepared to say it is up for sale."
Central European Distribution Corp has hailed a welcome distraction from its recent troubles, with its Zubrowka vodka brand names as the fastest-growing spirits brand last year....
The commercial court of Dijon has placed seven of Belvedere's subsidiaries under administration....
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