Alexandrion Group takes over majority stake of Cyprus drinks distributor | Progresiv

Alexandrion Group, producer and distributor of wines and spirits, announced the acquisition of the majority stake in Cyprus company V.M. Cavaway, specializing in the sale and distribution of alcoholic and non-alcoholic beverages.

To complete the agreement, the two companies are awaiting the approval of the Cypriot Competition Council.

Cavaway, based in Larnaca, was established in 2004 and has as its main business the sale and distribution of alcoholic and non-alcoholic beverages in Cyprus. Through this transaction, Alexandrion aims to turn Cavaway into one of the most important players in the Cypriot beverage market, focusing on portfolio development, innovation and continued improvement of company operations.

In 2017, Alexandrion Group, with a significant presence of its products in more than 50 countries around the world, has decided to open a global operations office in Cyprus. Last year, Alexandrion also announced the establishment of a Brazilian office that manages both operations in South America and the construction of the largest distillery in New York.

Alexandrion Group is one of the most important players on the wine and alcoholic beverages market in Romania and since 2017 the only single malt producer in the country. The group consists of the Alexandrion Distilleries and the Saber 1789 Distilleries, which together embody a history of over 200 years in the local spirits industry. In 2018, the group expanded its operations following the takeover of six companies owned by Halewood Wines and Spirits, now a separate entity within the Group under the name of The Iconic Estate, completing the portfolio of wines and sparkling wines.