23 May 2008
Lion Capital will acquire a majority stake in
Russian Alcohol Group from local private equity firm Industrial
Investors. Financial details were not disclosed but the deal is expected
to close within the next two months.
Central European Distribution Corporation, a vodka producer in Poland
and Russia, and
Goldman Sachs' European special situations group, will also invest
in Russian Alcohol, which is based in Moscow and employs about 3,500
staff, according to a statement.
Russian Alcohol produces the popular Green Mark and Zhuravli vodka
brands. Green Mark is the largest vodka brand by volume in Russia, and
one of the top five globally.
Javier Ferrán, Partner of Lion Capital, said: "We believe there is a
compelling opportunity to capitalise on the Russian consumer trend
towards premium spirits products and to further accelerate the Company’s
strong financial performance."
The deal marks the second acquisition of a drinks maker in Russia by
Lion Capital. Goldman Sachs supplied debt financing for the firm's $540m
buyout of Nidan Soki in August. The deal was Russia’s first Western-style
leveraged buyout employing senior and subordinated debt.
Lion Capital was advised by Goldman Sachs, which also advised on the
Nidan deal, as well as law firm
Weil, Gotshal & Manges and accountants
PricewaterhouseCoopers. Russian Alcohol was advised by Dutch bank
ABN Amro and law firm
Hogan & Hartson.
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