CEDC Signs 5-year Exclusive Distribution Agreement with Beam Inc. in Poland
WARSAW, Poland, Jan. 24, 2012 /PRNewswire/ -- Central European Distribution Corporation (NASDAQ: CEDC) one of the leading vodka producers in the world and the leading spirit distributor in Poland has signed a 5-year exclusive agreement to distribute brands from the Beam Inc. portfolio in Poland, including Jim Beam bourbon, Sauza tequila, Teacher's and Maker's Mark whisky. The agreement reflects the long term commitment of both companies to further strengthen the position of Beam Inc. premium brands in the Polish spirit market.
"We are pleased to continue our successful cooperation with Beam Inc. in Poland, which recognizes the value of CEDC's strong sales platform in the overall brown and white spirits market in Poland. We look forward to working further with the premium, internationally recognized brands which fit in our well-balanced portfolio of vodka, brown and white spirits and wine products," said William Carey, President and CEO of CEDC. "We are looking forward to further development of Jim Beam's consumer base in Poland and we see opportunities for this world's number one bourbon to continue its expansion on the fast growing whisky market in Poland."
The Polish whisky market has almost tripled during the last 5 years and in 2011 reached the level of approximately 10 million liters* making it one of the top 25 whisky markets in the world.
*Nielsen, 2011, 12 months ended November, Poland
CEDC is one of the largest producers of vodka in the world and Central and Eastern Europe's largest integrated spirit beverage business. CEDC produces the Green Mark, Absolwent, Zubrowka, Bols, Parliament, Zhuravli, Royal and Soplica brands, among others. CEDC currently exports its products to many markets around the world, including the United States, England, France, Japan and Germany.
CEDC also is a leading importer of alcoholic beverages in Poland, Russia and Hungary. In Poland, CEDC imports many of the world's leading brands, including Carlo Rossi Wines, Concha y Toro wines, Metaxa Liqueur, Remy Martin Cognac, Sutter Home wines, Grant's Whisky, Jagermeister, E&J Gallo, Jim Beam Bourbon, Sierra Tequila, Teacher's Whisky, Campari, Cinzano and Old Smuggler. CEDC is also a leading importer of premium spirits and wines in Russia with such brands as Concha y Toro, among others.
Forward Looking Statements
This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward looking statements are based on our knowledge of facts as of the date hereof and involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of CEDC to be materially different from any future results, performance or achievements expressed or implied by our forward looking statements.
Investors are cautioned that forward looking statements are not guarantees of future performance and that undue reliance should not be placed on such statements. CEDC undertakes no obligation to publicly update or revise any forward looking statements or to make any other forward looking statements, whether as a result of new information, future events or otherwise, unless required to do so by securities laws. Investors are referred to the risks and uncertainties discussed in CEDC's Form 10-K for the fiscal year ended December 31, 2010, including those under the caption "Item 1A. Risk Factors," and in other documents filed by CEDC with the Securities and Exchange Commission.
Corporate PR Manager
Central European Distribution Corporation
SOURCE Central European Distribution Corporation