Milford tea producer sells business in Russia
The German holding Laurens Spethmann has left the Milford tea production business in Russia. Ilya Blinov became the new owner of Milford LLC. This is reported by Rossiyskaya Gazeta with reference to the data of the Unified State Register of Legal Entities. According to RBC, Blinov used to be the CEO of Milford LLC.
In fact, we are talking about the transfer of business to local management. Laurens Spethmann Holding opened its representative office in Russia in 1996. Besides Milford, the company's tea brands include Messmer and Pages, as well as Milford and Huxol sweeteners. On August 1, another company, Ekaterra, announced that the Lipton, Saito and Brooke Bond tea brands will cease to be produced in Russia by the end of 2022, and soon after that the company will stop selling and distributing them.
At the same time, the Ministry of Agriculture of the Russian Federation reported that the ministry estimates the Russian market as fully provided with tea products.
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