Vodka's French connection
French alcohol producer Remy Cointreau, along with its partner Takirra, have each taken a 10-percent share in Poland's largest alcohol distributor, CEDC, Remy said in a statement.
The deal follows an agreement by the two sides in April, by which it was understood that CEDC would gain exclusive rights to produce, market, and sell Bols vodka (a joint venture between Remy and Takirra) in Poland and Russia. CEDC also gains the exclusive right to import and distribute Remy's other famous brands, such as Remy Martin, Cointreau and Metaxa. The final price of the transaction was agreed at zł.270 million, 40-55 percent of which CEDC will pay in cash, while the remainder will be paid for in exchange for the shares.
The transaction is expected to be made final in Q3 this year, pending the approval of the Office of Competition and Consumer Protection.
The deal follows an agreement by the two sides in April, by which it was understood that CEDC would gain exclusive rights to produce, market, and sell Bols vodka (a joint venture between Remy and Takirra) in Poland and Russia. CEDC also gains the exclusive right to import and distribute Remy's other famous brands, such as Remy Martin, Cointreau and Metaxa. The final price of the transaction was agreed at zł.270 million, 40-55 percent of which CEDC will pay in cash, while the remainder will be paid for in exchange for the shares.
The transaction is expected to be made final in Q3 this year, pending the approval of the Office of Competition and Consumer Protection.
