CZECH: Diageo signs distribution deal with Stock Spirits Group
Diageo announced the deal today
Diageo has appointed Stock Spirits Group to exclusively distribute its premium brands across Czech.
The deal, which starts 19 January, includes Johnnie Walker and J&B whiskies, Smirnoff, Captain Morgan and Baileys Irish Cream, the companies announced in a joint-statement today (13 November). The “reserve” portfolio of Diageo's luxury brands will continue to be distributed by current partner Ultra Premium Brands.
Diageo's Russia & Eastern Europe MD, Stephen Morley, said: “Diageo has a strong and growing presence in developing markets around the world, with great opportunities for faster growth, and certainly the Czech Republic and this new partnership will play an important role in realising these ambitions.”
Chris Heath, Stock Spirits' CEO said: "This will complement our existing strong portfolio and enable us to offer an even better range of premium products to our customers.”
The UK-based group, which last month raised a reported GBP206m (US$329m) in an IPO, also today posted “slightly better than expected” Q3 results in its first interim management statement since listing on the London Stock Exchange. Third-quarter volumes were up by 6%.
Heath told just-drinks in September the IPO funds would be used to target acquisitions in new Central and Eastern European markets.
In August, the group picked up distribution rights for Beam Inc's brands in Poland.
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