POLAND: V&S completes Polmos acquisition
According to a statement from the Polish treasury, Vin & Sprit, in line with a previously announced agreement, paid PLN 129.2m for the 85% stake.
According to the statement the deal was sealed following the green light from Poland's Internal Affairs and Administration Ministry. V&S will now invest PLN 11m in Polmos Zielona Gora, the third largest of Poland's Polmos alcohol producers, as part of a development and investment program.
V&S will buy the rest of the company's stock as and when it becomes available. The remaining 15%, under Polish law, has to be offered to the company's employees.
Polmos Zielona Gora produces the Luksusowa brand, which holds 10% of the market as well as the Siwucha vodkas, the Lubuski gin, and the Capri bitter, among others.
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