©Stock Spirits Group
Vodka maker Stock Spirits Group has agreed to a takeover offer valuing it at £767 million ($1.06 billion approx.) from CVC Capital Partners-affiliated funds.
London-listed Stock Spirits has a portfolio of more than 70 brands across a range of spirits, and 90% of its FY 2020 sales came from Poland, the Czech Republic and Italy.
The company’s strategy is said to focus on premiumisation and brands and products that appeal to younger adults and women.
The takeover offer of £3.77 per Stock Spirits share represents a premium of 41% to the stock’s closing price yesterday.
Stock Spirits chairman David Maloney said that the company’s directors believe the proposal “represents compelling value for Stock Spirits shareholders”.
He added: “We believe that CVC’s support for our existing strategy and the investment that it intends to make in order to grow our business means that this offer will benefit all of Stock Spirits’ stakeholders.”
CVC managing partner, István Szőke, added: “Stock Spirits is a high-quality business with strong brands, established market positions and significant growth potential and we are delighted that our proposal has been recommended by the Stock Spirits directors”.
© FoodBev Media Ltd 2021
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