FRANCE: Belvedere to sell Polish distribution arm
- Polish distribution added to list of assets for sale
- Marie Brizard sale talks progress
Belvedere seeks asset sales to cut debt
Troubled French drinks group Belvédère has confirmed that it is in negotiations to sell its Polish distribution businesses in order to reduce debt.
The Sobieski vodka producer will sell the division as part of a deal with French courts to emerge from bankruptcy protection.
Poland is a key market for Belvédère, but its distribution business there reported a fall in net sales to EUR152.2m (US$193m) in 2009, compared to EUR266.5m the previous year.
Belvédère’s sale of assets also includes spirits subsidiary Marie Brizard. A company spokesman told just-drinks today (13 May) that negotiations “were going well with several candidates”.
Quizzed on whether a deal would be concluded in line with the deadline of end-June 2010, set by the court, he said: “Finding the right candidate at the right price takes time but I wouldn’t want to exclude the possibility of closure by end-June.”
International spirits brands upped their dominance of the travel retail channel last, according to recent research....
Moët Hennessy has launched a bar tender-targeted competition to choose a global brand ambassador for its Belvedere vodka brand....
- Will Coca-Cola Co’s Dunkin’ Donuts move pay off?
- Five ways small brands can beat big players
- Alcohol brands and the 'better-for-you' trend
- Heineken's Q3 2016 results - Preview
- Ten ways to successfully target older consumers
- Diageo weathers Thailand alcohol ban
- Heineken's YTD performance by region - Focus
- SWA's David Frost to leave for foreign office role
- Stock Spirits appointments provoke investor unrest
- Diageo unveils new Bundaberg Rum packaging
- Global gin insights - market forecasts, product innovation and consumer trends
- Global Wine Market 2016-2020
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends