Beluga sells rights to namesake brand of vodka for $75 million
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The Beluga Group has announced that it has sold the international rights to the Beluga vodka brand. The amount of the transaction will be at least $75 million. The decision was made in connection with the “geopolitical situation”. The company will retain intellectual rights to the trademark in Russia.
Beluga said that the export of vodka products from Russia “is complicated by external factors”, which led to a reduction in its volume or the termination of cooperation with some countries. Among the reasons for this, the company named the introduced EU and USA a ban on the supply of Russian super premium alcohol. Due to the sanctions, Beluga suspended the operation of its warehouse in Riga in July. A “virtually complete halt of work with the largest Duty Free operators” also followed.
“In modern realities, the further effective work of the company’s export division for the supply of Russian vodka to global markets has become impossible,” the company’s press release says. It is specified that after the deal, the Beluga brand will still be present on the Russian market. The company intends to concentrate on the Russian market “in order to maintain leading positions in other areas of work.”
According to Agroexport estimates, in 2021 Russia supplied to foreign markets more than 2.7 million decalitres of strong alcoholic beverages worth $195 million, including 2.3 million deciliters of vodka worth $160 million. dal), Germany (356 thousand dal) and Latvia (260 thousand dal). Against the backdrop of sanctions in August, the import of strong drinks into the country fell by 35%.
About the situation on the market – in the material “Kommersant FM” “Russian alcohol has increased volumes”.
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