Central European Distribution Corporation (CEDC) has finally completed its purchase of a majority stake in Polmos Bialystok. The closure of the transaction brings to an end a sale process that began in December last year.
With a 66% stake in Bialystok, and taking into account its acquisition of Bols Sp. z o.o. during August, CEDC is now the largest vodka producer by value in Poland.
In a statement yesterday (12 October), William Carey, CEDC’s chairman and CEO, said: “We are pleased to have completed this transaction and look forward to continuing to work with the Polmos Bialystok management team to guarantee a smooth integration into the CEDC group. We have been working extensively over the last 30 days with the Bols and Polmos Bialystok management teams to ensure that new growth incentives get properly executed.
“As we are in the process of finalising the expected impact of the benefits from the above initiatives, we should be updating guidance within the next 14 days,” Carey added.
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