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French alcoholic beverage company Belvédère has sold its Polish retail operations Galeria Alkoholi to Carrefour.

This forms a part of the company’s BiG 2018 strategic plan, which will focus on the development of the company’s core businesses by offloading the loss-making assets.

Commenting on the sale, Belvédère CEO Jean-Noël Reynaud said: "Our BiG 2018 strategy consists in focusing our development on our core businesses, of which this retail activity in Poland was no longer a part.

"This divestment has been rapid and shows our ability to deploy our strategy with agility. I am also pleased that this company has been divested to a player such as Carrefour that will be able to realise its potential."

Galerie Alkoholi operates a chain of 39 liquor stores in Poland.

The divestiture has received approvals from the relevant authorities in France and Poland.

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By GlobalData

The financial terms of the transaction were not disclosed.

Belvédère Société Anonyme operates as a wine and spirit company in Europe and the US. The company’s products include vodka, whisky, autres spiritueux, and wines.

It offers vodka under the Sobieski, Starogardzka, Zawisza, Krakowska, Balsam Pomorski, Sobieski Impress, and Krupnik brands; and whisky under the William Peel, Sir Pitterson, Glen Roger’s, and Canadian’s Tippers brand names.

The company provides its autres spiritueux under the Marie Brizard, Manzanita, Old Lady’s Gin, Cognac Gautier, Cherry Brandy, Triple Sec, Curaçao Bleu, and Pastis Berger brands; and vins under the Bodegas Marques de Puerto, Duc de Birac, Eclat du Rhône, Bacalis, Roquatelle, Domain Menada, Sophia, and Kadarka brand names.