The US-owned drinks distribution company, Central European Distribution Corp. (CEDC), which operates as a drinks importer and distributor in Poland, has signed a letter of intent to acquire Panta-Hurt, a Polish drinks distributor, for US$2.28m in cash and shares.
CEDC said Panta-Hurt registered net sales in 2002 of US$23.96m. The company added that the acquisition would be completed in the third quarter and would contribute to group earnings immediately.
Central European posted earnings of US$8.3m in 2001 on sales of US$294m.
