Diageo signs joint venture with Smirnov
27/02/2006 - 11:48:57Guinness parent company Diageo has signed a joint venture with Smirnov owner A1 Group to market, sell and distribute spirits in Russia.
The 75% stake in the joint venture will cost Diageo $50m (€42m) and provided the deal receives clearance from the Russian anti monopoly authorities will become fully operational in July.
The new company Diageo Distribution ZAO will be the exclusive distributor of Diageo sprits brands and the Smirnov brand in Russia.
