April 11, 2019 / 7:29 AM / 3 months ago

France's Marie Brizard pledges to cooperate with competition inquiry

April 11 (Reuters) - Sobieski vodka brand owner, Marie Brizard Wine and Spirits (MBWS), said on Thursday it would cooperate with France’s anti-trust authority after raids on companies in the wines and spirits sector.

France’s anti-trust watchdog said on Wednesday it had raided companies suspected of possible anti-competitive practices, not disclosing the names of those targeted or the specific rules that may have been violated.

The raids did not imply the companies were guilty, the watchdog had said.

MBWS, who also owns the William Peel whisky brand, said in a statement it had supplied all of the information in its possession. It also reiterated its commitment to respect all of the rules and regulations to which it is subject.

MBWS, struggling to turn around its declining business, said last month it expects its 2018 earnings before interest, tax, depreciation and amortisation to remain negative at 28 million euros.

Shares in the company fell 0.51 percent by 0720 GMT. (Reporting by Piotr Lipinski in Gdynia Editing by Keith Weir)

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