SPI Group sells Kremlyovskaya Vodka to focus on StoliBy Becky Paskin
SPI Group has sold its Kremlyovskaya Vodka to the Classic International Group to focus on its key portfolio, particularly Stolichnaya Vodka.
The sale forms part of an on-going strategy outlined by SPI owner Yuri Shefler to “divest non-primary assets”, which has seen the Luxembourg-based group part ways with various distributors around the globe and set up its own importing company in the US.
Owned by SPI Group since 2003, Kremlyovskaya is distributed in around 200 countries with a range of seven flavours: Plum, Melon, Grapefruit, Chocolate, Apricot, Blackcurrant and Vanilla.
Classic International, established by a private financial trade group to develop certain alcoholi brands, has already obtained a license to sell Kremlyovska in Russia.
“Following the recent sale of our property development business in Russia, we continue to consolidate efforts on the core business and new exciting opportunities”, said Val Mendeleev, CEO of SPI Group. “The capital generated by the sale of the Kremlyovskaya brand will be deployed to acquire premium wine assets”.