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MIDDLE EAST. Edrington has announced that it has acquired the remaining 50% of Edrington Fix Middle East, the joint venture between Edrington and FIX Wines & Spirits, for an undisclosed amount, making it the sole shareholder of the company.
Edrington said that while there will be no significant change in the way the company operates, EFME Managing Director and one of FIX W&S partners Igor Boyadjian will leave his role as Managing Director. Martin Murdoch, currently Edrington Regional Director Russia, Emerging Europe and Turkey, will assume Murdoch’s role.
Boyadjian will oversee the transition and remain as an advisor until the end of 2016.
Igor Boyadjian said: “The EFME partnership has been a very positive one for all parties involved and the business has gone from strength to strength. It has become a very professional and skilled organisation, with the ability to deliver and make a difference in a highly competitive and volatile environment.
“It was therefore a good time for both shareholders to review their long-term commitment to the business and discuss control of the vehicle. I have decided to pass the baton to Edrington in order to pursue other interests, ending a fantastic journey initiated with FIX back in 2005. I know the business, our team and our brand partners are in good hands, and that under Edrington’s guidance, the business will continue to strive for excellence and further success.”
Edrington Regional Managing Director for Russia, Emerging Europe, Middle East, Africa and Turkey Stewart MacRae added: “We have worked closely with Igor and his team for nearly eight years, first as a third party distributor and then in our joint venture. The partnership between Edrington and FIX has been very successful and the business has grown strongly. There is a great team of people in the Edrington FIX business and we look forward to further success as we grow the business together.”
