Nemiroff purchase fails

The Polish alcohol holding company Central European Distribution Corporation (CEDC) officially announced its decision not to buy Nemiroff, which owns one of the most popular alcohol brands in Ukraine. At the beginning of the year the CEDC announced its interest in buying this company and that it was close to concluding the deal to buy 80% of Nemiroff for approximately US$400 m. The other bidder for the alcohol company, confirmed in June, is the Russian group ‘Russian standard’ belonging to businessman Rustam Tarico. Also bidding is the part Ukrainian company Polish Stock Spirits which has its head office in Great Britain.

The Ukrainian company has two distillery plants in the town of Nemiroff (Vinnitska region, central Ukraine) and one in Yaroslavl (Russia). Production volumes increased by 6.5% in 2009 to 8.2 m l.