Paris, 5 August 2019
Proposed sale of Sobieski Trade
Marie Brizard Wine & Spirits (Euronext: MBWS) today announced that it had signed a proposal to sell its Polish distribution entity Sobieski Trade, to United Beverages, a Polish group.
As announced at the presentation of its 2019‑2022 strategic plan, Marie Brizard Wine & Spirits has reviewed its activities as regards their tactical and strategic interest and ability to create long‑term value for the Group. On that basis, Marie Brizard Wine & Spirits has decided to sell Sobieski Trade which operates independently from the Group’s other activities in Poland.
According to the terms of the proposed sale, Sobieski Trade would be sold to United Beverages, one of the leading importers of premium spirits and wines as well as one of the leading distributors of alcoholic beverages in Poland. It also presents an opportunity for the Group’s brands in Poland — a new distribution agreement between MBWS Polska and Sobieski Trade will be signed alongside the sale.
Net sales of Branded business in Poland have risen since the beginning of 2019 due to the gradual beneficial effect of distribution agreements signed in the second half of 2018, as well as the business strategy to further diversify the customer base.
Moreover, Sobieski Trade is not large enough to meet the Group’s requirements in terms of profitability. In 2018, this activity generated a negative EBITDA for revenue of €107.5 million.
Andrew Highcock, CEO of Marie Brizard Wine & Spirits, said: “The proposed sale of Sobieski Trade aligns perfectly with the priorities of the Group’s strategic plan and will enable us to focus our recovery efforts and investments on value‑creating brands and activities. This operation will also enable us to reshape our international footprint and continue to streamline our operational model, reducing costs. Lastly, I am pleased that we have come to an agreement with United Beverages which, thanks to its size and know‑how, will be able to develop the company and its potential, providing Sobieski Trade’s employees new perspectives.”
The closing of the transaction remains subject to various conditions, including the approval of the Poland’s competition authority.
Marie Brizard Wine & Spirits will announce its results for the first half of 2019 on September 19, 2019.
Marie Brizard Wine & Spirits produces and sells a range of wine and spirits across four geographic clusters: Western Europe, Middle East & Africa, Central and Eastern Europe, the Americas, and Asia-Pacific. MBWS has distinguished itself for its know-how, the range of its brands, and a long tradition and history of innovation. From the inception of Maison Marie Brizard in Bordeaux, France in 1755, to the launch of Fruits and Wine in 2010, MBWS has successfully developed and adapted its brands to make them contemporary while respecting their origins. MBWS is committed to providing value by offering its customers bold, trustworthy, flavorful and experiential brands. The company has a broad portfolio of leading brands in their respective market segments, most notably William Peel scotch whisky, Sobieski vodka, Krupnik vodka, Fruits and Wine flavored wine, Marie Brizard liqueurs and Cognac Gautier. MBWS is listed on the regulated market of Euronext Paris, Compartment B (ISIN code FR0000060873, ticker MBWS) and is included in the EnterNext© PEA-PME 150 index, among others.
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