French spirits group Belvedere has seen third-quarter revenues rise 12%.

Belvedere, set to be formally taken over by Caribbean-based conglomerate CL Financial in the coming weeks, said turnover reached EUR121.7m (US$142.2m) for the three-month period. During the first nine months of 2005, revenues rose 20% to EUR355.4m.

Revenues in Poland, Belvedere's key market, dipped slightly but were offset by rising sales in Lithuania and Bulgaria.

CL Financial, which also owns Scotch distiller Burn Stewart, Cognac producer Hine and Angostura rum, announced the friendly takeover of Belvedere in October. The conglomerate is looking to break into the world's top 10 spirits producers within the next three years.