The Beluga Group has sold the international rights to its flagship premium vodka brand for $75 million, according to the company’s website. The decision on the deal was made in connection with the difficulties of exporting products abroad.
The company’s statement notes that the problems with supplies abroad are due to European and US sanctions. In particular, we are talking about a ban on cooperation with Duty Free operators and an increase in tariffs in the UK. The company also recalled that in the summer of 2022 the Riga warehouse stopped working.
Under the terms of the agreement, Beluga Group retains the intellectual rights to the trademark in Russia. The company pointed out that the profitability of the transaction, it is argued that its amount is much higher than the cost according to the calculation of independent appraisers.
“This transaction will improve the liquidity of the company and will allow the group to adhere to the policy adopted regarding the payment of dividends. The Beluga brand will continue to be part of the Beluga Group product portfolio and will be present on the Russian market.
According to data provided by the company, the export of products in 2021 accounted for about 4% of the manufacturer’s total revenue. The Beluga Group does not expect serious damage from the suspension of supplies abroad.
Author:
Natalia Gormaleva
Source: RB
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