POLAND: Treasury sells Polmos stake to Belvedere
According to reports by local press Poland's Treasury Ministry has sold 79.9% of Polmos Starogard Gdanski to Belvedere Dystrybucja for about US$8.46m.
Dystrybucja, a subsidiary of French beverages distributor Belvedere, has said it will raise the company's capital by at least US$930,000 within two years of the transaction.
Polmos Starogard, which produces eight of its own vodka brands as well as six licensed brands of alcohol holds about 4.5% of the Polish market with estimated annual revenues of about US$58.13m.
The Market for Spirits in Eastern Europe
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