Oaktree Capital will retain ownership of Stock Spirits

Oaktree Capital will retain ownership of Stock Spirits

Oaktree Capital is to retain ownership of Stock Spirits and has also rejected the option of selling shares in the drinks group.

Stock Spirits confirmed to just-drinks today (9 June) that Oaktree Capital will maintain the group's existing ownership structure. The decision follows a six-month strategic review, during which Oaktree Capital considered both selling Stock Spirits outright or an initial public offering on the group.

"Oaktree Capital has been, and continues to be, fully committed to the Group’s strategy and plans," said Stock Spirits. "The business will continue to benefit from the substantial investment they have already made in the brands, people and facilities."

During the past few months, Diageo has shown fleeting interest in Stock Spirits, which owns Czysta de Luxe vodka and claims to be the number one spirits group by volume in both Poland and Czech. Several private equity firms are also believed to have shown interest in acquiring Stock.

Valuation proved to be the sticking point for Diageo, just-drinks understands.

Stock reiterated today that it is, itself, in the market for acquisitions. It said that it sees significant growth potential in its existing brands and is eyeing new launches, but added: "In addition there is considerable opportunity through potential acquisitions of complementary brands and companies throughout Central Europe."