CEDC acquires Bols Sp. z o.o.
As part of the transaction, CEDC also entered into a strategic alliance with Remy Cointreau in which CEDC has the exclusive right to import and distribute Remy Cointreau's current import portfolio in Poland.
18/08/05 Central European Distribution Corporation (CEDC) has announced that it has completed its acquisition of Botapol Holding B.V., which owns 100% of the outstanding shares of Bols Sp. z o.o. The purchase price consists of 3,382,838 shares of common stock of CEDC with a value of approximately US$122.5 million (based on the US$36.22 valuation included in the purchase agreement) and US$147.5 million in cash. As a result of the transaction, each of the sellers will own approximately 8.3% of CEDC's outstanding shares. The stock portion of the purchase price is subject to a one-year lock-up period and is entitled to certain customary demand and piggy-back registration rights after the end of the lock-up period. The cash portion of the purchase price was taken from the proceeds of the Senior Secured Notes offering that CEDC completed last month.
As part of the transaction, CEDC also entered into a strategic alliance with Remy Cointreau in which CEDC has the exclusive right to import and distribute Remy Cointreau's current import portfolio in Poland and in which Dominique Heriard Dubreuil, the chairman of the board of directors of Remy Cointreau, has been appointed to the CEDC board. Markus Sieger, a representative of Takirra Investment Corp., has also been appointed to the CEDC board as part of the transaction.
CEDC is the leading distributor by volume and a leading importer by value of alcoholic beverages in Poland. Following the acquisition of Bols and the planned acquisition of Polmos Bialystok, CEDC will become the largest vodka producer in Poland by value. CEDC operates 14 distribution centers and 86 satellite branches throughout Poland. It distributes many of the world's leading brands in Poland, including brands such as Johnnie Walker Scotch, Stock Brandy, Sutter Home, Torres, Mondavi and Concha y Toro wines, Corona, Foster's, Grolsch, Budweiser Budvar and Guinness Stout beers.
The Remy Cointreau Group ranks among the leading players in the worldwide spirits industry. The company, with roots dating back to 1724, is a producer of premium wines and spirits with a portfolio of unique and international brands that include Remy Martin, Cointreau, Passoa and Bols liqueurs, Bols vodka, Mount Gay rum, Metaxa as well as Piper-Heidsieck champagne. Remy Cointreau is quoted on France's Euronext exchange.
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/08-17-2005/0004090068&EDATE=
