SPI sells Kremlyovskaya Vodka7th October, 2013 by Rupert Millar
SPI Group has sold its Kremlyovskaya Vodka brand to Classic International Group and has said it is considering “premium wine assets”.
Having had the brand in its portfolio since 2003 and with peak sales of over five million cases, SPI said the sale was in line with its plans to focus attention on its key portfolio which Stolichnaya Vodka is at the centre of.
CEO, Val Mendeleev, added that the profits of the sale (which were not disclosed) would be put towards acquiring, “premium wine assets”.
Another recent sale of a property development business in Russia means that SPI will be able to, “continue to consolidate efforts on the core business and new exciting opportunities,” he concluded.
Classic International Group is a private financial trade group that develops, “select alcoholic brands”.