Ukraine’s National Agency on Corruption Prevention has listed Bermuda-based Bacardi Limited, producer of Martini and Bacardi, as an international sponsor of war. The company still trades with Russia.
The agency announced its decision on its website.
Why the Martini and Bacardi producer was declared an international sponsor of war
After the full-scale Russian invasion of Ukraine, Bacardi announced that it had halted exports to Russia and frozen advertising investments, but later this part of the post disappeared from its official announcement. The company thereafter continued supplying millions of dollars worth of products to Russia and hiring new employees there.
Furthermore, the exit of a number of major international brand owners from the Russian liquor market reduced competition and created opportunities for those who remained. Thus, Bacardi Rus, the company’s Russian branch, took advantage of the situation and imported $169 million worth of products during a year of the war in Ukraine.
What is known about Bermuda-based Bacardi Limited
The company was founded in 1862 in Cuba. Later, after the Cuban Revolution, it moved to the United States, and then to Hamilton, Bermuda, where it’s still headquartered.
Bacardi Limited owns more than 100 alcohol brands, including Martini, Bacardi, Dewar's, Baron Otard, and Martini Asti. The company operates 31 manufacturing facilities and employs a total of 6,000 people. Every year, it sells more than 200 million bottles of Bacardi rum in around 150 countries. The company's annual turnover is more than $3.3 billion.
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