just The Preview - CEDC Q1
Central European Distribution Corp will report its first-quarter results today (9 May)
Central European Distribution Corp will report its first-quarter results tomorrow (10 May). Here, just-drinks takes a look at the highs and lows for the company in the three months to the end of March.
- CEDC started the year with the announcement of an exclusive distribution deal with La Martiniquaise's Label 5 Scotch whisky in Russia. The deal helped the company extend its reach in Russia beyond vodka.
- At the end of January, the company signed another exclusive deal, this time an extension of its Poland contract with Beam Inc. CEDC will distribute Beam's products in Poland for another five years. At the same time, the company said it was continuing discussions with Russian Standard over the Russian vodka maker's proposal to increase its stake in the distributor.
- At the start of February, those discussions reached a turning point when Russian Standard revealed it had offered CEDC emergency debt funding and distribution rights on its namesake vodka in return for a further 23% stake in its business.
- The next day, CEDC said the offer was just one of the proposals that it was considering. The courting would continue until April when Russian Standard said it would inject US$310m into CEDC in return for a 28% stake.
- It was business as usual on 21 March, when CEDC announced it was extending its distribution deal with Gallo Vineyards in Poland.
For CEDC's full-year results, click here.
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