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News
CEDC buys major stake in Russian distributor
Central European Distribution Corporation (CEDC) has announced plans to acquire a 49.9% stake in Whitehall Group, a Russian import and distribution company with projected revenues of US$200m this year. Whitehall is the sole Russian distributor of Constellation and Concha y Toro brands.
CEDC is the largest spirits distributor and importer in Poland and Hungary, as well as being Poland’s number one vodka producer with a stable of brands including Zubrowka, Bols and Soplica. Company president and CEO William Carey comments: “We believe this to be an excellent opportunity for CEDC’s continued expansion into Russia. The premiumization trend in Russia for purchasing luxury brands continues to develop at a strong pace. The strong market position of Whitehall will allow the company to take advantage of the growing prosperity in Russia.”
According to the deal, Whitehall will continue to be run by founder and CEO Mark Kaouffman, who says: “We are delighted that CEDC has decided to invest in Whitehall.”
Ben Grant, 27/2/08