Belvedere commences negotiations on sale of alcoholic drink brand

2010-07-20

Belvedere, the well-known producer of strong spirits which owns the Sobieski Polish vodka brand, may sell its Marie Brizard alcoholic drink brand name to Cofepp. The negotiations between the two companies commenced on 1 July 2010 and could be completed by the end of the month.
The sale of Marie Brizard is part of the company’s restructuring plan which was accepted by a French court at the end of 2009. Belvedere has €550m of liabilities which must be repaid within ten years. There has been market speculation that the alcoholic drink brand could be worth €235m.
Belvedere plans to focus on the production and sale of vodkas and the global promotion of the Sobieski brand. In 2010, the company expects to increase its sales of nine-litre cases of vodka by 20%, from 3 million cases in 2009.