Carlsberg announced the termination of licensing agreements with Baltika

The Danish holding Carlsberg Group said it has notified Baltika of the termination of licensing agreements for the production and sale of products under the group’s international and regional brands, according to its press release. It follows from it that this is a response to the decree of Russian President Vladimir Putin dated July 16, 2023, according to which Baltika is transferred to the temporary management of the Federal Property Management Agency. Also in the Carlsberg release it is said that the Russian brewing company has the right to sell existing stocks and materials under the Carlsberg brands until April 1 next year.

Baltika was founded in 1990 and is currently 100% owned by the Carlsberg Group. The company produces beer under the brands Baltika, Tuborg, Zatecky Gus, Kronenbourg 1664 and others. At the end of 2022, its revenue increased by 21.96% to 101 billion rubles, net profit for this period amounted to 10 billion rubles. In mid-July, Russian President Vladimir Putin signed a decree on the transfer of shares belonging to Carlsberg Group structures to temporary state management. Taimuraz Bolloev, who led the company from 1991 to 2004, became the president of Baltika. After this, the Carlsberg Group reported that the change of management at the Russian enterprise occurred without the knowledge or approval of the holding.