Privatization of Zhytomyr Distillery: Key Details
In August 2024, the Cabinet of Ministers of Ukraine transferred the Zhytomyr Distillery (ZhLDZ) to the management of the State Property Fund for further privatization. This step was part of a broader strategy to demonopolize the alcohol industry, initiated by a decree of President Volodymyr Zelensky in 2020. ZhLDZ, known for its products, in particular the Presidential Standard vodka, was previously under the management of the State Administration of Affairs.
New owner: “SPK-Invest 2021”
In April 2025, it became known that the Zhytomyr Distillery was acquired by the company “SPK-Invest 2021”, owned by the Astion brothers. This acquisition was part of their strategy to expand their business in the agro-industrial sector of Ukraine. The Astion brothers are known for their investments in various sectors of the economy and have experience in modernizing manufacturing enterprises.
History and significance of the Zhytomyr Distillery
The Zhytomyr Distillery has a long history and was one of the key enterprises in the production of alcoholic beverages in Ukraine. Its products, in particular the Presidential Standard vodka, were popular both in the domestic market and abroad. The privatization of the plant opens up new opportunities for modernization of production and entry into international markets.
Privatization of the alcohol industry: general context
The privatization of the Zhytomyr Distillery is part of a broader process of demonopolization of the alcohol industry in Ukraine. Since 2020, the State Property Fund has been implementing a strategy for the sale of state-owned alcohol enterprises. Among the successful examples are the sale of the Odessa Distillery for 65 million hryvnias and the Kosarsky Distillery in the Cherkasy region for over 160 million hryvnias.
Development prospects after privatization
The acquisition of Zhytomyr LGZ “SPK-Invest 2021” opens up new prospects for the enterprise. Modernization of production facilities, introduction of modern technologies and expansion of the product range are expected. This will contribute to increasing the competitiveness of the plant and creating new jobs in the region.