Altai beer maker asks Putin to hand it Coca-Cola’s former Russian business
Bochkari, a beer and soft drink producer based in Altai, has asked Russian President Vladimir Putin to transfer the businesses of Multon and Multon Partners, the former Coca-Cola bottler, to its external management.
Bochkari, a brewery and beverage manufacturer in Altai, has petitioned Russian President Vladimir Putin to hand over the former Coca-Cola bottler's assets, Multon and Multon Partners, to external management, according to Kommersant. The request, submitted in October, has reportedly gained support from some deputy prime ministers in charge of the sector.
However, Multon Partners maintains that a local team manages the company and asserts that they have not been notified of any changes. Multon, a subsidiary of Coca-Cola Hellenic Bottling Company, is one of Russia's leading soft drink producers, having shifted focus to local brands such as Dobry, Rich, Moya Semya, Pulpy, Burn, and BonAqua after Coca-Cola exited the Russian market in 2022.
Following reports of Bochkari's proposal, shares in Coca-Cola Hellenic Bottling Company plummeted nearly 19% on the London Stock Exchange, closing at 54 pounds a share. Russian authorities have previously managed the assets of various Western brands, including Auchan, Nestle, Metro Cash & Carry, the former Leroy Merlin chain, and Japan Tobacco International, under temporary supervision.
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