5 Dec 2023 10:53

Former Russian structure of Heineken has been rebranded - newspaper

MOSCOW. Dec 5 (Interfax) - United Heineken Breweries LLC has changed its name to United Breweries - Holding, company CEO Alexey Sagal told Vedomosti.

The name change is not reflected yet in the Unified State Register of Legal Entities.

In addition, the company has changed its logo. Instead of a red star, the logo will be an image of brewing tanks, Sagal said.

Dutch Heineken sold its Russian assets to the Arnest group in August for the symbolic price of 1 euro, while the buyer assumed the obligation to repay a debt of 100 million euros.

Under the terms of the deal, production of the Amstel brand in Russia must be discontinued within six months, and none of the group's other international brands will be licensed in Russia. Heineken, the company's flagship brand, ceased production in Russia last year.

Meanwhile, existing three-year licenses for small local brands will remain, which are necessary to ensure the continuity of their activities and the closure of the transaction.

A representative of UBH told Vedomosti that the company retains more than 20 brands, including Krusovice, Bochkarev, Mister Fox, Shikhan, Okhota, and Zhigulevskoye 1978.

The company owns seven breweries and is one of the top-three Russian beer producers.

Net profit in 2022 totaled 2.6 billion rubles compared to 878.9 million rubles in 2021. Revenue increased to 42 billion rubles from 36.9 billion rubles in 2021.