Nemiroff Signed an Agreement with the State Property Fund for the Purchase of the Nemyriv Alcohol Distillery

5 minutes

On November 12, 2020, Nemiroff and the State Property Fund of Ukraine signed a purchase-sale agreement for the Nemyriv alcohol distillery. The contract amount is UAH 55 million, according to the results of the auction, which took place on October 15, 2020.

So, Nemiroff officially became the first private owner of an alcohol distillery in Ukraine after a long monopoly in the industry.

According to preliminary estimations, the first investment in the modernization of the acquired distillery will range from $ 300,000 to $ 500,000. This is the initial necessary investment in equipment, technology, and personnel to bring production in line with company standards since it is important for Nemiroff that alcohol be consistently high quality.

“With this purchase, we are restoring the heritage of the brand, which, according to archival data, goes back to 1752. Vodka was produced in Nemyriv almost 100 years before Mendeleev defended his dissertation “On the Combination of Alcohol with Water,” – commented Yuriy Sorochynskiy, the CEO of Nemiroff. “And we are proud that we will be able to control product quality again at all stages of production.”

The launch of production is planned for Q1 2021, however, the exact date depends on the speed of passing and implementation of the new licensing law, as well as on the assistance of government agencies in obtaining a license.