“Abrau-Durso” family business of the Ombudsman Boris Titov acquires winery “anniversary” in the Krasnodar region, with more than 3.5 thousand vineyards. The deal would allow wine producers to expand the area of productive lands by more than two times, which became extremely important after the entry into force of the ban on the use of imported raw wine.That “Abrau-Durso” intends to acquire the assets of the winery “anniversary”, “Kommersant” said the President of GK Pavel Titov. According to him, we are talking about buying 100% “Agrofirma “Kuban”” which belongs to 1,093 hectares of land, including 450 hectares of fruit-bearing vineyards, and “Agrofirma “jubilee”” (2.5 thousand hectares of vineyards, of which 1.6 thousand hectares of fruit-bearing vineyards). In addition, in GC “Abrau-Durso” enter, LLC “Winery “anniversary””, which produces 30 million bottles a quiet and 9 million bottles of sparkling wines a year.GK “Abrau-Durso” belongs to the family of the business Ombudsman Boris Titov and engaged in the production of sparkling and still wines under the same brand, “Vedernikov Winery” and water. According to its own data, in 2019, the group produced 42.2 million bottles. The revenue of “Abrau-Durso” for the period of 8.2 billion rubles., net profit — 1,3 billion rubles, stated in the financial statements of the company. Its ownership is now 6 hectares of land, of which the fruit-bearing vineyards there were 1.3 thousand hectares in Krasnodar winery “anniversary” belonged to the Adyghe businessman Aslanbey Nagoya. In 2018, the company started to have problems due to the requirement of the Bank “Kuban Credit” to repay loans for a total amount of approximately 700 million rubles In 2018, the businessman has started bankruptcy proceedings. He hoped that in the stage of observation will be able to normalize the and enter the recovery. But against the businessman criminal case on deliberate bankruptcy, which was referred to the court in June of this year.In March 2020 the new owners “Agrofirma “jubilee”” steel Moscow LLC “Tehnostroy”, owned by Eugene Prokofiev, and Paul Remich. They got to 99.99% and 0.01% of the company respectively. In the framework of bankruptcy “Jubilee” was filed about 30 creditors in total amount of 1.6 billion RUB Of which about 1.5 billion rubles. in March and April 2020 was assigned to CJSC “Abrau-Durso”, after which these requirements were excluded from the register of creditors.Pavel Titov did not comment on the structure of the transaction, saying only that it can be completed in September 2020. Mr. Titov is not disclosed, and the transaction amount. In September, Aslanbi Naked put the company up for sale by posting an appropriate message on the company’s page in Instagram. Then he estimated the value of all assets at 6 billion rubles According to Pavel Titov, the actual transaction amount will be lower, and bolgreater part of it has made a repurchase of debt “Jubilee.” In July, “Abrau-Durso” opened two credit lines at Sberbank total RUB 5 billion As explained by Mr. Titov, the transaction will go only part of this amount.The need to expand the area of vineyards appeared in “Abrau-Durso” after the entry into force of the law prohibiting Russian manufacturers use imported raw wine, says the President of the Union of winegrowers and winemakers Leonid Popovich. Otherwise, the company must indicate on its products, which it is not wine. At the same time, according to Mr. Popovich, the management of “Abrau-Durso” has long been negotiating with the owner of “Anniversary” on the sale of the company. Leonid Popovich did not rule out that in addition to the transaction “Abrau-Durso” will have to invest in changing the structure of the acquired vineyards varietal composition, as GK produces mainly sparkling wine.Mary Kotova the challenges that can follow the expansion of vineyards, and output in the new category “b” told the President, “Abrau-Durso” Pavel Titov.Read more