Central European Distribution Corp. (CEDC) said on Tuesday that it has decided not to pursue an acquisition of Nemiroff.
The net proceeds expected from the sale of the Polish distribution business, which were initially targeted as partial consideration for the acquisition of Nemiroff, are anticipated to be redeployed to maximize return on capital, increase fully diluted earnings per share and/or reduce financial leverage.
The company said that it will consider a potential share buyback and/or acceleration of the call option on the remaining equity stake in the Whitehall Group that it does not own. The company's decision as to the application of such proceeds, and the timing thereof, will be determined by the company, in its discretion, and will depend upon, among other things, the economic and market conditions and such other factors as the company considers appropriate.
CEDC is the largest producer of vodka in the world and Central and Eastern Europe's largest integrated spirit beverage business. CEDC produces the Green Mark, Absolwent, Zubrowka, Bols, Parliament, Zhuravli, Royal and Soplica brands, among others. CEDC currently exports its products to many markets around the world, including the United States, England, France and Japan.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.