The conclusion of sale is expected in the coming months and MBWS insists this is part of a wider strategic plan to evaluate each of its business units.
According to MBWS, its business in Poland has faced significant challenges for several years meaning it lacked the required scale and footprint to meet the stated mid to long term objectives of sustained profit.
As part of the agreement United Beverages Group will continue to produce Sobieski vodka, which remains property of MBWS, at the sites covered by the sale and a "substantial number” of MBWS international brands will be imported by United Beverages Group.
Andrew Highcock, MBWS CEO, said:“This agreement is another step forward in our group strategy of simplifying the operating model and focusing on investments in shareholder value of optimising assets.
William V Carey, CEO of United Beverages Group, added: “The acquisition of a leading Polish vodka producer as well as of a modern distillation plant completes one of the strategic gaps for the United Beverages Group.
“These production assets, coupled with our existing distribution strength, are an attractive investment opportunity to create a vertically integrated and value-increasing platform.”
