The latest chapter in the long-running saga between Carlsberg and the Russian authorities has seen the brewer hit its former unit in the country with a licence withdrawal for all of its brands.
Carlsberg, which owned Russia’s beer market leader, Baltika Breweries, has found its exit from the country, prompted by the invasion of Ukraine last year, to be far more complicated than it had hoped for. Following July’s presidential decree “transferring Baltika Breweries to the temporary management of the Russian Federal Agency for State Property Management”, Carlsberg has this week responded by terminating the licence agreement with Baltika.
The move affects both the Carlsberg and Tuborg flagship brands as well as the rest of the international and regional portfolio.
“We currently see no path to a negotiated solution for exiting Russia,” the company said this week. “We refuse to be forced into a deal on unacceptable terms, justifying the illegitimate takeover of our business in Russia.
“We are continuing to take all possible actions, including legal, to protect our employees, assets and operations.”
Subsequently, Carlsberg will take an impairment charge on the full value of Baltika.
In August, Jacob Aarup-Andersen started his tenure as Carlsberg’s new CEO, with the group also issuing a condemnation of recently discovered funding related to its previous business in Myanmar.
