Successful business negotiations see CEDC claim global brand rights
CEDC have acquired the global branding rights for Kauffman Vodka in a $91.5 million deal.
Central European Distribution Corp (CEDC) - the Polish vodka maker - has secured the global branding rights for Kauffman Vodka, following successful business negotiations.
In addition, CEDC said in a statement that it will pay Whitehall Group - the Russian spirits supplier - $91.5 million (£58.8 million) for the 20 per cent stake remaining in the enterprise.
Chief executive and president of CEDC William Carey stated the firm is pleased to report it has now secured 100 per cent management control and ownership over all investments that started in 2008 in Russia.
"We believe the growth of the wine and brown spirit market will continue to flourish in Russia with an improving consumer who we believe will continue to buy into these categories," he stated.
Mr Carey added that the acquisition of the Whitehall Group will enable his company to accelerate growth in these areas.
Last week, Del Monte Foods was sold to a private equity group led by Kohlberg Kravis Roberts and Co for $5.3 billion.