POLAND: CEDC buys another distributor
Central European Distribution Corporation has snapped up yet another beverage alcohol distributor in Poland.
The US-based company said last night (21 September) that it had paid US$1.3m to buy Classic, a distributor based in the north-east of the country.
In a separate deal, CEDC has also bought back the rights to Rum Senorita, one of the leading rum brands in Poland. Bols Poland, which CEDC bought last year, had previously licensed the rights to the brand to a rival local distiller, CEDC said.
William Carey, president and CEO of CEDC, said, "We are excited about the acquisition of Classic, which is located near Polmos Bialystok, our distillery producing the Zubrowka and Absolwent vodka brands."
Carey said the deal would strengthen its presence among retailers in the north-east of Poland, a "very dynamic" region in the Eastern European country.
He added that CEDC, which is the largest vodka producer in Poland, remain on the look-out for acquisitions in the country - and elsewhere in Central and Eastern Europe.
"We remain committed to acquiring well-positioned alcohol distribution companies and anticipate acquiring through 2007 Polish distribution companies that have aggregate annualised revenue of US$141m. We are also committed to acquiring alcohol production and distribution companies in Central Europe."
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