Stoli owner creates Baltics beverage group

Stoli Vodka-owner SPI Group has created a holding company to manage its “ambitious development plans” in the Baltics.

The creation of Amber Beverage Group will see producer JSC Latvijas Balzams, SPI Distribution Latvia, SPI Distribution Estonia, Bennet Distributors in Lithuania, beverage retailer Latvijas Balzams in Latvia and Bravo Alco in Lithuania combine under one umbrella.

A new logistics company will also join Amber Beverage Group later this month.

Altogether, Amber Beverage will employ 1,300 employees across Latvia, Lithuania and Estonia who bottle, market, distribute, export and retail around 500 spirits and wines to 160 global markets.

Each business unit will retain its name and management following the merger.

Val Mendeleev, SPI Group CEO, who will chair the new group’s supervisory board, said the establishment of Amber Beverage is an “important step” in its long-term strategy.

“It sets the foundations for Amber Beverage Group’s expansion plans and will provide for greater flexibility as we grow,” he added.

SPI Group currently distributes several brands from William Grant & Sons, Rémy Cointreau and others, as well as its own products including Stolichnaya vodka, Moskovskaya vodka and Riga Black Balsam.

Earlier this year Mendeleev revealed his interest in expanding the group into a new category through acquisition or NPD.