Spirits maker buys into Russian market
A Bala Cynwyd company that makes and distributes liquor in Eastern Europe today said it will acquire just shy of a 50 percent voting interest in Russian wine and spirits distributor Whitehall Group.
A Bala Cynwyd company that makes and distributes liquor in Eastern Europe today said it will acquire just shy of a 50 percent voting interest in Russian wine and spirits distributor Whitehall Group.
Central European Distribution Corp., which says it is the largest vodka producer in Poland, said it has agreed to buy a 49.9 percent voting stake and a 75 economic interest in the Whitehall Group, with an option to acquire the remaining interests in the company after 2013.
Whitehall Group expects 2008 revenue in excess of $200 million, CEDC said in a statement. Financial details of the deal were not disclosed.
CEDC shares were up 8.2 percent, or $4.54, to $59.99 in midday Nasdaq trading.























