MOSCOW (Reuters) – Alcoholic beverages group Roust, which owns Russian Standard Vodka, has agreed to sell its Polish subsidiary, CEDC, to food company Maspex in a deal that values the business at 3.89 billion zlotys ($980.79 million), it said on Wednesday.
Founded by businessman Rustam Tariko, Russian Standard Vodka is the world’s second largest vodka producer. It acquired CEDC (Central European Distribution Corp), which makes vodkas including Absolwent and Zubrovka, in 2013.
Roust will remain the distributor of CEDC alcohol brands on key international markets, it said in a statement, and CEDC will continue to sell its Russian Standard and Gancia brands in Poland.
The deal is in line with the group’s strategy of focusing on the further growth of the Russian market and international expansion of its global brands, the company said.
($1 = 3.9662 zlotys)
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