26 September 2007 - Further to obtaining approval from competition authorities, French wines and spirits group Belvedere has completed the sale of its Pulco and Sirop Sport businesses to Orangina Group, owned by private equity firms Blackstone and Lion Capital, for 178 million euro.
The 2 soft drinks brands were owned by its Marie Brizard unit.
When Belvedere initially announced the sale in July, it said the transaction would generate a total 200 million euros in cash and cut net debt to between 210 million euros and 230 million euros before end 2007.
The completion of the Pulco and Sirop Sport purchase comes 3 months after FLEXNEWS reported that the Orangina Group acquired Rosinka, a Ukrainian soft drinks manufacturer.