21 May 2007 - In a move to focus on soft drinks, German beverage firm Eckes AG has sold Czech spirits producer Stock Plzen to US investment group Oaktree Capital Management, reports the Czech business press.
The financial terms of the deal were not disclosed.
The acquisition still has to be cleared by the local competition office, add the reports.
Stock Plzen, known for its liquor 'Fernet Stock', also produces Amundsen and Bozkov vodka.
According to the reports, Stock Plzen has a 35% share of the local spirits market. In 2006, the Czech firm sold 24.65 million litres, up 6.4% compared with 2005. The company’s net profit amounted to USD 14.6 million and sales were recorded at USD 82.4 million.