Global vodka producer Nemiroff won an auction on 15 October to purchase the Nemyriv alcohol distillery in Ukraine.
The facility was the first of about 80 to be privatised after a near-30-year state monopoly on alcohol production in the country.
Nemiroff, a well-established player in travel retail, says the acquisition represents an important strategic decision for the company.
It will allow it to control and improve the quality of alcohol and the final product, which it claims ‘lagged far behind other countries’ due to outdated technologies and equipment.
Geographically, this provides additional logistical advantages being located a few hundred meters from Nemiroff Vodka.
Yuriy Sorochynskiy, CEO of Nemiroff said: “We are proud to finally be able to contribute to the integrity of the brand and restore its glorious heritage.
“Nemiroff Vodka has won the trust and loyalty of millions of consumers around the world through high-quality standards and bold tastes. The company diligently approaches both the technological process and the selection of ingredients, so after privatisation we plan to raise the quality of alcohol to a new level that meets global standards.”
A spokesperson from Nemiroff Vodka told TRBusiness: “Due to the global lockdown, the current strategy is to strengthen Nemiroff distribution positions with key partners. If the situation will be favourable, we plan to implement some activations in big and important hubs such as Istanbul and with Dubai Duty Free.
“Meanwhile, we’ll proceed negotiating and exploring new travel retail markets to expand our geography.”