UK: Oaktree Capital silent on latest Stock Spirits rumours
The latest rumours are that Stock Spirits will be the subject of an IPO in Poland
Oaktree Capital has declined to comment on reports that it is set to launch an IPO for its Stock Spirits division.
The US-based private equity firm, which set up Stock Spirits after it bought Poland's Polmos Lublin distiller in 2006 and Czech's Stock Plzen in 2007, is considering its options for Stock after Diageo ended its interest in the unit in April. Speculation has suggested in recent months that Oaktree will either sell Stock, or float the unit.
Citing “a person familiar with the plans” yesterday (31 May), Reuters has claimed that "Stock Spirits will float in Warsaw next month, with Oaktree selling 30% to 50% of the company, waiting to unload more of its 100% in a few years".
The IPO could be worth around EUR350m (US$500m), a source told Reuters.
When contacted by just-drinks, however, a spokesperson for Oaktree would be drawn on the report.
Speaking to just-drinks last year, Stock's CEO, Chris Heath, confirmed that Oaktree would either sell or float the unit in the future. “That is the way private equity works,” he said at the time, declining to comment further.
Ian Buxton has some money burning a hole in his pocket. Some of his peers are suggesting he goes with what he knows, and spends it on drink, but not necessarily for consumption. Ian's none too sure....
Diageo's CEO, Paul Walsh, has again been heard to criticise UK Government tax policy for driving the company's top people abroad, but global drinks market trends look just as culpable....
China's Cognac market has plenty of room for growth and Pernod Ricard's Martell is set to continue to benefit more than its rivals, according to Sanford Bernstein analysts....
- Why sports drinks fail to ride the Olympic wave
- Experienced hands hold firm at CCEP - Analysis
- What do US wholesalers think of spirits trends?
- How the craft economy is loosening alcohol laws
- It isn't just men who like beer - Comment
- Diageo Australia's commercial head to step down
- Luxury and e-commerce a "natural fit" - Diageo
- "We're not complacent about Brexit" - Diageo
- Diageo merges US, Canada spirits units
- William Grant upgrades Glenfiddich Cask Collection
- Global gin insights - market forecasts, product innovation and consumer trends
- The Next Seven Big Beverage Markets
- Global rum insights - market forecasts, product innovation and consumer trends
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends