RUSSIA: CEDC signs La Martiniquaise deal
Central European Distribution Corp to sell La Martiniquaise Label 5 Scotch in Russia
Central European Distribution Corp will be the exclusive distributor for La Martiniquaise's Label 5 Scotch whisky in Russia, the drinks group has announced.
Central European Distribution Corp (CEDC) said today (16 January) that the deal reflects growing demand for Scotch whisky in Russia. The deal also further extends CEDC's reach in Russia beyond vodka.
"We are pleased to add to our premium import portfolio such a recognised Scotch whisky brand," said CEDC's CEO, William Carey. "Through the joint efforts of CEDC’s strong sales team and La Martiniquaise Group, we have an opportunity to develop Label 5 into one of the best selling whiskies in Russia."
Last month, Russian Standard proposed to increase its stake in CEDC by 19.9%, from its existing shareholding of 9.9%. Both companies have said that they are in talks over a possible deal.
When contacted by just-drinks today, a CEDC spokesperson said that there are "no new developments for now". Also last month, Moody's placed CEDC on notice for a credit downgrade, warning that there is little clarity on how CEDC plans to repay EUR880m of debt, particularly EUR310m due in March 2013.
Central European Distribution Corp has done the only thing that looked viable, as 'brand Russia' in vodka moves a step nearer to reality....
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