Central European Distribution Corp. (CEDC), which distributes vodkas including Bols and Zubrowka in Poland, agreed to buy a majority stake in Russia's Parliament Vodka to expand into the world's largest market for the spirit.
The acquisition will be paid for with cash, debt and stock, Bala Cynwyd, Pennsylvania-based Central European Distribution said today in a statement sent by PR Newswire. Financial terms of the transaction weren't disclosed. The purchase will add 10 cents to 20 cents a share to annual earnings, it said.
To contact the reporter on this story: Mary Jane Credeur in Atlanta at email@example.com.
To contact the editor responsible for this story: Michael Nol at firstname.lastname@example.org.