CEDC Signs a New 3-year Agreement with Gallo Vineyards Inc. for Exclusive Distribution in Poland
WARSAW, Poland, March 21, 2012 /PRNewswire/ -- Central European Distribution Corporation (NASDAQ:CEDC), one of the leading vodka producers in the world and a leading distributor of wine and spirits in Poland, has signed a 3-year contract with Gallo Vineyards Inc. for exclusive distribution of wines from Gallo Vineyards portfolio in Poland. On the basis of the contract, CEDC will continue to distribute the leading wine brand in the Polish market – Carlo Rossi - as well as other brands from the Gallo portfolio, including Barefoot wine.
"Our ongoing cooperation with Gallo Vineyards Inc. has resulted in the creation of the strongest, most recognized wine brand in the Polish market, which impacted the shape and direction of development of the whole wine market in Poland. We believe our strong partnership with Gallo Vineyards Inc. over the last 7 years and the continuation of the successful brand strategy for Carlo Rossi will enable us to further develop our presence in the wine market. The overall selection of Gallo Vineyards Inc. wines, which are an excellent fit in our diversified portfolio of premium alcoholic beverages, establishes a powerful foundation for expansion in a steadily developing wine market of Poland," – commented William Carey, President and CEO of CEDC.
CEDC is the leader of Poland's table wine market, with over 13%* market share in terms of value. Carlo Rossi brand, which was launched in Poland by CEDC, has been the wine market leader in terms of value for the last 5 years, significantly contributing to the growth of the total wine market in Poland. CEDC is also responsible for marketing and sales of Carlo Rossi wine in Russia, which is seeing strong growth trends in its second year of development.
Gallo Vineyards Inc., established in 1933 in California, is the world's largest winery, with exceptional expertise in the art of grape growing, winemaking, distribution and marketing of wines. With seven wineries strategically located in California's wine regions, Gallo produces wines in every category, offering diversified portfolio, covering needs of all types of consumers.
*Nielsen, 12 months ended January 2012
CEDC is one of the largest producers 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, Japan and Germany.
CEDC also is a leading importer of alcoholic beverages in Poland, Russia and Hungary. In Poland, CEDC imports many of the world's leading brands, including Barefoot Wine, Carlo Rossi Wines, Concha y Toro wines, Metaxa Liqueur, Remy Martin Cognac, Sutter Home wines, Grant's Whisky, Jagermeister, Jim Beam Bourbon, Sierra Tequila, Teacher's Whisky, Campari, Cinzano and Old Smuggler. CEDC is also a leading importer of premium spirits and wines in Russia with such brands as Concha y Toro, among others.
Forward Looking Statements
This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward looking statements are based on our knowledge of facts as of the date hereof and involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of CEDC to be materially different from any future results, performance or achievements expressed or implied by our forward looking statements.
Investors are cautioned that forward looking statements are not guarantees of future performance and that undue reliance should not be placed on such statements. CEDC undertakes no obligation to publicly update or revise any forward looking statements or to make any other forward looking statements, whether as a result of new information, future events or otherwise, unless required to do so by securities laws. Investors are referred to the risks and uncertainties discussed in CEDC's Form 10-K for the fiscal year ended December 31, 2011, including those under the caption "Item 1A. Risk Factors," and in other documents filed by CEDC with the Securities and Exchange Commission.
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