Central European Distribution Buys Stake in Parliament Vodka

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 mcredeur@bloomberg.net.

To contact the editor responsible for this story: Michael Nol at mnol@bloomberg.net.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.