BBH increases its interest in Tulskoye Pivo

Baltic Beverages Holding AB (BBH), which is owned equally by Orkla’s beverage company Pripps Ringnes and the Finnish company Hartwall, strengthens it’s operations in Russia by reorganising the ownership structure in Tulskoye Pivo brewery (former Taopin). To finance the increase of production capacity to 250 million litres at the Tulskoye Pivo brewery in Tula south of Moscow, a private placing of shares totalling USD 20 million will be offered to the BBH subsidiary, Baltika. After the share issue, Baltika will own 50.01 percent of Tulskoye Pivo and BBH will own 34.29 percent. BBH owns 74 percent of Baltika.

The intention of the changed ownership structure is to strengthen the BBH group’s position in the rapidly growing Russian beer market and to strengthen the position of the Baltika brand in the densely populated Moscow area. This will furthermore facilitate an efficient usage of Baltika´s distribution system.

Tulskoye Pivo, the leading local beer brand, as well as Baltika, the leading Russian beer brand, will be produced in the brewery in Tula. Baltika is the only national brand in Russia.