Belvedere Acquires Local Distillery

French alcoholic drinks group Belvedere has announced that it has acquired the Cherkasy distillery in Ukraine for EUR3.6mn (US$5.2mn) as it looks to enter the Ukrainian alcoholic drinks market. The company has said that Ukraine is a small but interesting market, which it hopes to use as a platform to rapidly launch its Sobieski vodka brand both in the Ukraine and beyond. The Ukrainian alcoholic drinks market offers a wealth of opportunities as, despite low disposable incomes, consumption levels are very high. Although many international operators are still hesitant to enter Ukraine, due to the difficult business environment, for those

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