POLAND: Agros continues to focus on foreign alcohol maket
Amid internal conflict between Agros' investors, the Polish food-processing giant has revealed that its focus is on fruit and vegetable processing and the sale of its alcohol products on foreign markets. The announcement is designed to quell the confusion created by the opposing intentions of the major investors, the French spirits and wine group Pernod Ricard, which owns 75% of Agros, and Highwood Partners, the US investment fund which controls 15%.The president of Argos, Pierre Denetre, revealed that the company would not bid in the privatisation of the Polmos Pozan distillery because it is only licensed to sell alcohol on the domestic market and is therefore of little interest. Agros would, however, continue to sell Polish vodka on the foreign market despite Highwood Partners questioning the licensing agreement with Pernod Ricard. Agros has recently filed to the courts against Highwood Partners, accusing it of tarnishing the company's image.
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