News

US: CEDC closes Bols Hungary buy

Most popular

Coca-Cola alcohol launch a statement of intent

Why are spirits brands still getting women wrong?

Interview - Beam Suntory CEO Albert Baladi

Coca-Cola reaps rewards of CEO's innovation bet

Why gin needs stricter definition rules - and fast

MORE

Central European Distribution Corporation has completed its purchase of Bols Hungary.

The US-based company confirmed yesterday (13 July) that it had acquired 100% of Bols' share capital from Remy Cointreau and DELB. CEDC has also bought the Royal Vodka trademark - the number one selling vodka in Hungary - for around US$19.6m.

In the full year to March, Bols Hungary had net sales excluding excise tax of around US$22m and achieved a net income margin of approximately 8% to 10%.

CEDC said that it expected the transaction to be accretive to 2006 fully diluted earnings per share.

Speaking to just-drinks last month, CEDC's president and CEO, William Carey, said: "As the producer of Royal Vodka in its home market, we feel this is a very natural fit. Also, when you look at a market like Hungary, where the majority of the drinks business is in the on-trade, it pays to have an on-trade sales force - something that Bols Hungary has."

In June, CEDC renewed its distribution agreement for its Zubrowka vodka brand with Pernod Ricard, which had held the distribution rights to Zubrowka since it agreed a deal with the brand's previous owner, Polish distiller Polmos Bialystok. CEDC bought Bialystok last year.


Related Content

How did Lucas Bols perform in H1 fiscal-2020? - results data

How did Lucas Bols perform in H1 fiscal-2020? - results data...

Lucas Bols Half-Year 2018 by region - results data

Lucas Bols Half-Year 2018 by region - results data...

Campari Group CEO Bob Kunze-Concewitz on vodka's US problem, Forty Creek's upcoming expansion and cannabis hurdles

Campari Group CEO Bob Kunze-Concewitz on vodka's US problem, Forty Creek's upcoming expansion and ca...

"All of us feel a great deal of responsibility" - just-drinks meets Hector Gorosabel, Asahi Europe C...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?