Pa.-based spirits seller selling stock in Poland

The Bala Cynwyd, Pa.-based producer and distributor of alcoholic beverages (NASDAQ:CEDC) said it will offer 1.55 million shares of common stock for sale in Poland. It said it may also sell shares in the United States.

The company expects to issue and deliver the shares on or about Feb. 27.

Central European Distribution said it plans to use the proceeds to redeem a portion of its senior secured notes.

On Tuesday, the company said it had increased its holdings of a Polish vodka maker, Polmos Białystok SA. It now owns 90 percent of the company's outstanding shares. At the time, Central European Distribution said it expects full year earnings of $1.50 to $1.66 a share, based on sales of $1.05 billion to $1.1 billion.

Central European Distribution is the largest vodka producer in Poland and produces the Absolwent, Zubrowka, Bols and Soplica brands, among others. It also exports Zubrowka to many markets around the world. The company also produces and distributes Royal Vodka, the No. 1 vodka in Hungary.

In Poland, the company has 16 distribution centers and 76 satellite branches, importing brands like Remy Martin, Jagermeister, Metaxa, Jim Beam, Sauza Tequila, Grant's, E&J Gallo, Sutter Home, Torres, Penfolds and Concha y Toro wines, Corona, Foster's, and Guinness Stout beers and Evian.

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