Bala Cynwyd, Pa., April 17 - Central European Distribution Corporation today announced that it has signed a binding preliminary share purchase agreement to acquire 100% of the outstanding shares of a leading Polish distributor of alcoholic beverages. The transaction is subject to Polish Anti-Monopoly Office approval, and other closing conditions.
The distributor has over 15 years experience in the alcohol beverage industry and has annual net sales of approximately $60 to $65 million. The total purchase price of approximately eight million U.S. dollars will be funded through a combination of approximately 80% cash and 20% in shares of common stock of CEDC. The final purchase price is still subject to certain closing adjustments. The transaction is expected to close by mid-summer 2007.