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US/POLAND: CEDC completes distributon deal, raises guidance

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Central European Distribution Corporation has acquired a Polish alcoholic drinks distributor.

The US-based company, which operates primarily in Poland and Hungary, said today (30 July) that it has signed a US$8.4m share purchase agreement with Polish distributor, PHS Sp.

"We are please to complete this acquisition of a strong distributor in western Poland," said CEDC president and CEO William Carey. "PHS has over 15 years experience in the market and will solidify our distribution presence in this key region of Poland."

The company has subsequently raised its full year net sales guidance for this year to between $1.13-$1.18bn, and its full year 2007 fully diluted earnings per share guidance to $1.5-$1.73.

CEDC also plans to raise its full year 2008 net sales guidance to between $1.26-$1.36bn, and its full year 2008 fully diluted earnings per share guidance to $2.03-$2.13.

In its position as Poland's largest vodka group, CEDC owns the Zubrowka and Soplica vodka brands. Third-party brands in the CEDC stable include Sauza Tequila,  Concha y Toro wines and Guinness.


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