Central European Distribution Corporation (CEDC) announced it had signed a Memorandum of Understanding with Remy Cointreau and DELB for the purchase of 100% of Bols Hungary Kft, the distributor of several drink brands in Hungary, including the country's best-selling vodka brand, Royal Vodka.
In addition to the Royal Vodka brand, which is produced by CEDC at its Bols Poland production facility, Bols Hungary's portfolio includes Bols Vodka and Liqueurs, the Remy Cointreau portfolio, the Grants portfolio, the C&C portfolio and Jagermeister.
CEDC expects to pay the purchase price from its own funds. The acquisition by CEDC of Bols Hungary is subject to among other conditions, negotiation and execution of a definitive acquisition agreement, board approval, and completion of due diligence. The acquisition is expected to close by mid-July 2006.