The government-owned company already has the largest sales volume of vodka in Poland - a country which has a deeply rooted vodka drinking culture.
The Polish News Bulletin reported that the three main candidates were Janusz Palikot, owner of Polmos Lublin; William Carey, founder of the CEDC alcohol distribution company; and Waldemar Rudnik, who represents Sobieski Dystrybucja, the owner of the Sobieski vodka brand. Each of the prospective bidders already has substantial dealings in the Polish spirits market.
The fact that the bidders have gone public underlines the value of the potential deal. Normally such discussions are maintained with the strictest confidentiality in Poland. But with a 20 per cent share of the market and annual sales valued at ZL1 billion (€213 million), it is no great surprise that the bidding is so keen.
It is widely believed that the government is planning to wrap up the sale by the end of the year, but with the bidders putting on the pressure, the announcement of a tender may actually be delayed because of the negotiations.
Analysts see such a delay as a bad thing for the company. Already, the rumoured sale has led to PB being knocked off its number one position in the Polish spirits market and the longer the sale is drawn out the more pressure that it is likely to put on the company's position, as a lack of clear focus causes it to flounder.
Two years ago, the Polish treasury put the company up for sale with a ZL600 million price tag. The sale was postponed within six months due to a lack of serious bidders. With its weakened position, the company is not likely to be valued as high, but equally a knock-down bargain is unlikely to be in the offering with such strong brands in the portfolio.