Acquisition of Prazska Vodka, Nordic Ice and Dynybyl Gin in Czech Republic
Stock Spirits Group 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."