Beam Suntory and Edrington are set to divest their marketing and distribution joint-venture in Russia, bringing the curtain down on their long-standing Maxxium partnership.
The brand owners, both of whom suspended exports to Russia in March following the invasion of Ukraine, confirmed earlier this week that “members of the local management team” will take over Maxxium Russia. The decision follows a review of the pair’s “approaches to the future of the Russia business”.
The announcement comes almost exactly a year after Beam Suntory and Edrington disconnected in Spain and the UK, with Beam Suntory taking full control of Maxxium Spain and Edrington inheriting Edrington-Beam Suntory UK.
The Maxxium entity dates back to 1999, when the two companies, along with Remy Cointreau and then-Absolut owner Vin & Sprit, pooled their global marketing and distribution resources. Pernod Ricard’s acquisition of Vin & Sprit in 2008 resulted two years later in the withdrawal of the Swedish company, followed shortly afterwards by Remy.
Edrington still has interests in two Maxxium units, in the Netherlands and Belgium & Luxembourg, although both are with Lucas Bols as its partner.
Earlier this month, the UK-based company, which owns Scotch whisky brands The Macallan and The Famous Grouse, reported a healthy sales rise from the 12 months to the end of March. Edrington also took a GBP17.7m (then-US$21.3m) non-cash impairment charge due to its suspension of shipments to Russia.
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