US/POLAND: CEDC remains on acquisition hunt
US-based Central European Distribution Corporation has today (20 February) reaffirmed plans to snap up more distributors in Poland.
The company, which is headquartered in the US but is also the Poland's largest vodka group, reiterated its hunger for acquisitions as it announced its earnings guidance for this year.
CEDC said it expects full-year net sales to reach US$1.05-1.1bn. Earnings per share, the company said, is slated to hit US$1.50-1.66.
"We are continuing to look at different distributors in Poland to acquire and are projecting acquisitions of distributors with net annualised revenue of approximately US$100-120m in 2007," said CEDC president and CEO William Carey. "These distributors will continue to strengthen our presence in selected geographical areas within Poland."
CEDC added, meanwhile, that it had closed its tender offer for a tranche of shares in Polish distiller Polmos Bialystok. CEDC now owns a 90.1% stake in Bialystok, in which it bought a majority interest two years ago.
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