Belvedere commences negotiations on sale of alcoholic drink brand
2010-07-19
Belvedere, the well-known producer of strong spirits which ownstheSobieski Polish vodka brand, may sell its Marie Brizard alcoholic drink brand name to Cofepp. The negotiations between the two companies commenced on 1 July 2010 and could be completed by the end of the month.
The sale of Marie Brizard is part of the company’s restructuring plan which was accepted by a French court at the end of 2009. Belvedere has €550m of liabilities which must be repaid within ten years. There has been market speculation that the alcoholic drink brand could be worth €235m.
Belvedere plans to focus on the production and sale of vodkas and the global promotion of the Sobieski brand. In 2010, the company expects to increase its sales of nine-litre cases of vodka by 20%, from 3 million cases in 2009.
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