Stock Spirits Group PLC
Acquisition of Prazska vodka, Nordic Ice and Dynbyl gin in Czech Republic
London and Prague, 12 October 2016: Stock Spirits Group ("Stock" or "the Company"), a leading owner and producer of premium branded spirits and liqueurs that are principally sold in Central and Eastern Europe, is pleased to announce the acquisition of three spirits brands from Bohemia Sekt s.r.o for CZK135 million (Czech Koruna) / €5 million (Euros, FX rate: 27.02) to further strengthen the Company's business in the Czech Republic.
The brands being acquired are Prazska vodka, Nordic Ice (vodka and flavours) and Dynybyl gin. Prazska is a well-known Czech vodka brand while Dynybyl is the country's best-selling domestic gin. These additions will bolster Stock's portfolio, delivering a more compelling offering to the Company's wholesale and retail customer base in the Czech market.
The purchase is in line with Stock's stated strategy of expanding its portfolio in its target markets through bolt-on acquisitions that enhance shareholder value.
It is expected that by the end of the month, the brands will be distributed and marketed by Stock Spirits while production will be fully integrated into Stock Spirits' Czech production facilities in Plzeň by January 2017.
Mirek Stachowicz, Chief Executive of Stock Spirits, said: "We are delighted to add Prazska, Nordic Ice and Dynybyl to our line-up, having tracked these brands for some considerable time. They have a rich heritage and, with the appropriate brand investment and nurturing within our wider spirits portfolio, their addition will ensure Stock remains at the forefront of the Czech spirits market, which is so central to our business. As we stressed in our interim results announcement, we will continue to pursue further smaller bolt-on acquisitions to add to our brands line-up."
For further information:
Stock Spirits Group:
+44 (0) 1628 648 500
About Stock Spirits Group
Stock Spirits is one of Central and Eastern Europe's leading branded spirits and liqueurs businesses, and offers a portfolio of products that are rooted in local and regional heritage. With core operations in Poland, the Czech Republic, Slovakia, Italy, Croatia and Bosnia & Herzegovina, Stock also exports to more than 40 other countries worldwide. Global sales volumes currently total over 100 million litres per year.
Stock has state of the art production facilities in Poland and the Czech Republic, and its core brands include products made to long-established recipes such as Stock 84 brandy, Fernet Stock bitters and Limonce, as well as more recent creations like Stock Prestige and Zoladkowa de Luxe vodkas.
Stock is listed on the main market of the London Stock Exchange. For the year ended 31 December 2015 it delivered total revenue of €262.6m and operating profit of €41.7m.
For further information please visit www.stockspirits.com
This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.
This information is provided by RNS