US: CEDC snaps up more Polish distributors
Central European Distribution Corporation has raised its full-year sales guidance after finalising the acquisitions of a number of unnamed Polish distributors.
The US-based group, which has expanded to become the largest alcohol distributor in Poland, said today (9 January) that it expects net sales for 2006 to reach US$931-US$956m, up from US$906-US$931m.
CEDC declined to name the acquisitions but said they would add US$25m in revenues at an outlay of only US$1.2m. CEDC officials failed to return to calls for comment as just-drinks went to press.
CEDC's acquisitions in the last 12 months also include Polish distributor Imperial, bought in August in a deal worth US$2.2m. The group last year also became Poland's largest vodka producer after snapping up Bols and Polmos Bialystok.
CEDC president and CEO William Carey said: "There continues to be great interest from distributors in joining the CEDC group as the spirit market is continuing to go through rapid consolidation. CEDC is taking the lead in this consolidation as we continue to explore opportunities in acquiring both new brands and alcohol distributors as per our management objectives for 2006."
CEDC runs 15 distribution centres and 87 satellite branches throughout Poland, handling brands including Johnnie Walker Scotch whisky, Concha y Toro's wine stable and Foster's lager.
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