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By Michael Breen | 11-10-2009 02:52 PM

A Beverage Pick in Eastern Europe

Turner Emerging Growth manager Frank Sustersic says Central European Distribution is poised for attractive growth once its Eastern European markets normalize.

Mike Breen: You're a small-cap manager, and you mentioned there were actually some opportunities that dropped back into your lap with the market cataclysm last year, with folks shedding so much of their value. We were discussing an interesting firm, Central European Distribution.

Maybe you can explain how that firm fell back into your area and let us know about its appeal.

Frank Sustersic: Sure. One of the emerging growth markets really got hammered a lot last year. The U.S. market had a really bad downturn, but the markets in Eastern Europe and Russia all had even worse downturns.

Breen: This firm is a beverage firm in this area?

Sustersic: They're a distributor and beverage distillery manufacturer. They manufacture primarily vodka in Poland. Then earlier last year, it was bad luck in their timing, but they purchased two operations in Russia. This was right before the major collapse in late '08.

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