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Stock Spirits to distribute Diageo brands in Czech Republic
By Amy HopkinsStock Spirits Group will increase its presence in Central Europe through a new distribution partnership with Diageo.
The UK-headquartered spirits producer and distributor, which operates primarily in Central and Eastern Europe, has been appointed exclusive distributor of Diageo’s portfolio of premium spirits, such as Johnnie Walker, Smirnoff vodka and Baileys Irish Cream, in the Czech Republic.
“We are very pleased that a highly respected business like Diageo recognises the strength of our distribution platform in the Czech Republic and we are delighted to be working in one of our core markets with more premium brands,” said Chris Heath, CEO of Stock Spirits.
“This will complement our existing strong portfolio and enable us to offer an even better range of premium products to our customers.”
The “Reserve” portfolio of Diageo luxury brands will continue to be distributed by its current partner Ultra Premium Brands.
Stephen Morley, managing director Russia and Eastern Europe, said: “Stock has a leading spirits business in the region, a strong sales and marketing organisation and is a prominent partner for key customers across the country.
“Diageo has a strong and growing presence in developing markets around the world, with great opportunities for faster growth, and certainly the Czech Republic and this new partnership will play an important role in realizing these ambitions.”
The agreement, which will come into effect on 19 January 2014, follows the recent news that Stock Spirits Group would endeavour to raise £52 million to raise its profile by selling at least a quarter of its shares on the London Stock Exchange.