Business Global Spirits in Russia goes to bankruptcy
The Russian producer of Vodka Khortitsy, Morosha and Pervak, who previously owned by the Ukrainian alcoholic holding Global Spirits and the nationalized in the lawsuit of the Prosecutor General of the Russian Federation, threatens bankruptcy. The intention to initiate this process was stated by Alef Engineering – one of the suppliers of equipment for the company. Now the Russian assets of Global Spirits are temporarily managed by managers of Rosspirtprom JSC. However, any forced business transfer is poorly affected by its development, experts warn.
As Kommersant discovered in Spark, Alef Engineering LLC reported his intention to initiate the bankruptcy of the Rodnik and K producer, which had previously produced vodka under the brands of Khortitsy, Morosha and Pervak. They did not answer the “spring and k” at the request “Kommersant”, it was not possible to contact Alef Engineering.
Previously, the Rodnika and K business belonged to the Global Spirits holding Ukrainian businessman Yevgeny Chernyak (part of an association whose activities are recognized in the Russian Federation and prohibited).
In May 2024, Russian assets of Global Spirits, including Rodnik and K,, the Feodosia factory of Konyakov and Vin, the Crimean Wine House, the Russian North LVZ in Vologda, as well as the distribution companies “Traditions of Success”, “Quality Standard” and “New Level”, were arrested by the Leninsky district court of Kursk at the request of the General Prosecutor General of the Russian Federation. As a result, the assets were nationalized and switched to the balance of the Federal Property Management Agency. This was preceded by the initiation of a criminal case against Evgeny Chernyak (part of an association whose activities are recognized in the Russian Federation extremist and prohibited) on suspicion of financing the Armed Forces of Ukraine (see. « Kommersant » dated July 3, 2023).
The Rodnik and K was created by the base of the Soviet enterprise in Mytishchi near Moscow, which has been operating since 1939. According to their own data, the capacity of production is 10.1 million decalitras of alcoholic beverages per year, of which 8 million gave – 1.3 million – other liquor products and 0.8 million gave cognacs. According to SPARK, the net loss of Rodnik and K LLC in 2024 amounted to almost 1.28 billion rubles, the revenue was not indicated. The company’s total debt amounted to 1.754 billion rubles, increasing by 58.53%per year.
Alef Engineering LLC supplies equipment for the food industry, and also designs the lines of roslice. According to the Unified State Register of Legal Entities, the owner of the business is Alexei Fateev. According to the SPARK, the revenue of Alef Engineering LLC in 2024 amounted to 381.6 million rubles, decreasing by 52.92%.
The lawyer of the Asterisk Bureau Dmitry Hungarian notes that any forced assets transfer negatively affects the company and its management, « since it leads to significant financial and operational losses. » In the long run, a threat of serious consequences is created, including the loss of solvency and, as in the case of Rodnik and K, bankruptcy, the expert states.
According to Kommersant, in 2023, Russian plants of Global Spirits produced 2.82 million in the disposal of the Global Spirits, reducing the production of 60%, liquor products with alcohol content of more than 25% – 421 thousand gave (decrease by 62%), cognac – gave (Minus 72% of the year to year). As a result of 2024, companies included in Global Spirits did not get into the TOP-20 manufacturers in these categories.
According to the president of the Alcopro Guild Andrei of Moscow, there is no product in Russian retail now.
The expert does not exclude that Russian assets of Global Spirits can soon be sold in the country’s industry company.
In this case, the new managers of enterprises will not be difficult to quickly resume production. But due to the destruction of the previous structure of sales of new wholesale buyers, it will be difficult to find for such products, Mr. Moscow does not exclude.
Elena Varlamova, Director of the Practice of Evaluation of Business and Assets of Neo Consulting Company, also believes that the Federal Property Management Agency is only a temporary holder of Russian assets Global Spirits and they can be sold to a third party. At the same time, the initiation of the bankruptcy process can cause a discount to the final value of the Rodnik and K when concluding a transaction.
According to Andrei Moscow, the Rodnik and K production site are now managed by managers of Rosspirtprom JSC. After the transfer of all Russian assets of Global Spirits, Andrei Dronov began to lead them to the Federal Property Management Agency, who also heads Rosspirtprom.
