Baltika Brewery (Russian: Пивоваренная компания "Балтика") is the second largest brewing company in Europe[1] and the leader of the Russian beer market with over 38% market share. It is headquartered in St. Petersburg.
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The Baltika brand was one of the two Russian brands (together with Lukoil) included in the Financial Times Top100 Most Valuable Global Brands list in 2007. However, Baltika was not included on the list in 2009. Baltika is one of the top three brands in the Interbrand Best Global Brands 2012 report.
Following the Russian invasion of Ukraine, Carlsberg Group attempted to sell the company.[2] However, in July 2023 the Russian government seized the company and its assets under the rules for businesses from the Unfriendly Countries List.[3]
History
Tins of Baltika (No. 3 and No .7)
Baltika Breweries launched production in St. Petersburg in 1990. It was co-founded by Afghan-born Naif Achakzai and Nikita Kefirov. After privatization in 1992, the company was reorganized into an open joint stock company. In 1993 Baltic Beverages Holding Brewing Concern became the company's largest shareholder. In 1998, the name of the enterprise was changed to Open Joint Stock Company Baltika Breweries. 2000 saw the opening of the largest Soufflet Malting Plant in Russia built by Baltika in St. Petersburg, together with the French company "Groupe Soufflet", which invested approximately $35 million in the project and received 70% ownership of the plant. Baltika covered the rest of the expenses and received 30% of the shares.
The company listed on the Rts stock exchange in September 2001; by January 2002 it had reached a market capitalization of $1.3 billion.[4]
At the end of 2006, Baltika merged with three Russian breweries, Vena, Pikra, and Yarpivo, and in 2007 they became one legal entity.[5]
In April 2008, Baltic Beverages Holding bought a stake in Baltika. Following the acquisition, Baltika delisted from the Moscow stock exchange in October 2012.[6]
Baltika and all its assets were seized on 16 July 2023 by the Russian government.[3] After this, Baltika, through a Russian court, obtained a ban on the termination of its rights to the Seth & Riley's Garage, Holsten, Kronenbourg and Tuborg brands. Previously, the Carlsberg Group unilaterally refused to license these brands in Russia.[7] Carlsberg's new CEO, Jacob Aarup-Andersen, who took office in September, said Russia had stolen the Danish company's business.[8] In December 2023, the appointed CEO of Baltika, Taimuraz Bolloyev, proposed nationalizing it.[9]
Capacity
Baltika's monthly production capacity is over 5.2 million litres.
Company structure
The company employs approximately 9,000 people.
Owners and management
On 16 July 2023, the company was placed under the temporary management of the Federal Agency for State Property Management.[10] Taimuraz Bolloev, a businessman who already led the company in 1991-2004, has been appointed the new president of Baltika Breweries.[11]
This article uses material from the Wikipedia article Baltika, and is written by contributors.
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