Groupe Belvedere restructures Polish arm

The group owns the iconic Sobieski Vodka brand which is made in Poland, but sold globally.

Groupe Belvedere has set in motion the next step of a restructuring plan started in 2013, which will see it spinning off some of its interests in Poland, CEO Jean-Noel Reynaud told The Deal.

The company's plan is made of of three components, Reynaud said.

“The first of this is to rationalise our business, and to sell some of our non-core activities, such as the wholesale business which we have in Poland, while the second part of our strategy is really to optimise all our processes – the supply chain, the procurement, and even to reconfigure our route to market, including the US market.

“Last but not least, our aim is to grow our business, regionally and also from a brand point of view,” the CEO added.

Reynaud explained that the company converted EUR 600 million of debt in equity in 2013, with one private equity firm taking over eight percent of the core business. Groupe Belvedere is now trying to streamline the “fragmented structure” of the business. (rg)