US: CEDC on Polish distributor acquisition trail
Central European Distribution Corporation is looking to buy an unnamed drinks distributor in Poland.
The US-based company, which is the largest vodka producer in Poland, said yesterday (17 April) that it plans to spend around US$8m, through a combination of 80% cash and 20% shares, on the distributor.
"The distributor has over 15 years experience in the alcohol beverage industry and has annual net sales of approximately $60m to $65m," CEDC said.
The transaction, which is subject to Polish Anti-Monopoly Office approval, is expected to close by the middle of this year.
Last month, CEDC posted a 78% leap in operating profit for 2006 to $91.6m. Revenues for the year rose 26% to $944.1m.
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