RUSSIA: Heineken sells Stepan Timofeyevich kvass brand
Heineken has confirmed the divestment of the Stepan Timofeyevich kvass brand in Russia.
The company confirmed today that it has sold the brand, which is a fermented drink made from bread, to domestic kvass producer Decka. The cost of the transaction was not disclosed.
"Given kvass brewing is not part of our core business, it was decided to sell the brand," a spokesperson for Heineken said today (23 September).
Heineken acquired the Stepan Timofeyevich brand in 2005 as part of its purchase of Stepan Razin Brewery at the time.
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