Vičiūnai Group Sells Russian and CIS Businesses to Gruppa Okean

Vičiūnai Group, co-owned by Kaunas Mayor Visvaldas Matijošaitis, has sold its factory in Sovetsk, Kaliningrad, and 14 other businesses in Russia and former Soviet countries to Russian company Gruppa Okean.

The transaction, registered on April 18, 2023, marks Vičiūnai Group's complete withdrawal from the Russian and Commonwealth of Independent States (CIS) markets.

The sale includes Vičiūnai Group's entire business in Russia, comprising the Sovetsk factory and six other companies, with Gruppa Okean now owning 100% of the shares in Vičiunai-Rus. Additionally, the Lithuanian company divested its logistics and trading companies in Belarus, Kazakhstan, Azerbaijan, Kyrgyzstan, Uzbekistan, and Georgia, totaling 15 businesses.

While the value of the deal remains undisclosed, reports indicate that the buyer, Gruppa Okean, may be acting in the interests of Unifrost, a large Russian importer of fish and seafood. Vičiūnai Group had been promising to sell its Russian business since the start of the Russian invasion of Ukraine in February 2022, and the sale process took two years to complete.

Why this matters: The sale of Vičiūnai Group's Russian and CIS businesses to a Russian company highlights the ongoing economic impact of the Russia-Ukraine conflict on international business relations. The divestment also emphasizes the challenges faced by companies with ties to Russia in the wake of international sanctions and geopolitical tensions.

Vičiūnai Group has officially confirmed the sale, stressing its complete withdrawal from the Russian and CIS markets. The transaction encompasses the Sovetsk factory in Kaliningrad and 14 other businesses across Russia and several former Soviet countries, demonstrating the scale of Vičiūnai Group's former presence in the region.

Key Takeaways

• Vičiūnai Group, co-owned by Kaunas Mayor, sold its Russian and CIS businesses.
• The sale includes the Sovetsk factory and 14 other companies to Gruppa Okean.
• The transaction marks Vičiūnai Group's complete withdrawal from the Russian and CIS markets.
• The sale highlights the economic impact of the Russia-Ukraine conflict on international business.
• The divestment emphasizes the challenges faced by companies with ties to Russia.