Interfax-Ukraine

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Work with Biosphere brands on Russian market should be terminated by June 15.

The production of the brands of Biosphere Corporation in the Russian Federation was to be completely stopped on May 30, and by June 15 all stocks were to be sold and work with these trademarks was to be completely stopped, owner and CEO of the corporation Andriy Zdesenko said.

"In March of this year, we exited the (Russia-related) business, took the brands. Or rather, the production of our brands in the Russian Federation was to be completely stopped on May 30, and by June 15 all stocks were to be sold out," he said in an interview with Interfax-Ukraine.

Zdesenko explained that over the past few years, together with Iryna Nesterenko, a minority shareholder of Biosphere, he owned about 25% of the Austrian holding, which also owned the Russian business.

"As a beneficiary of the brands that I invented, including Biosphere, I gave them the opportunity to work with these brands," he specified.

According to him, the Ukrainian brand Freken Bok was the No. 1 brand in the Russian market.

Zdesenko pointed out that by now his and Nesterenko's shares have been completely sold to the Austrian holding, which sold part of its share, 5%, to a Russian citizen hired to stabilize the situation and sell the business.

"The Ukrainian side does not have any legal relations or hidden beneficiaries," the owner and CEO of Biosphere Corporation stressed.

He stated that the initially agreed terms were somewhat delayed in the absence of a direct influence on the process.

"I will do everything possible and impossible to stop selling and producing our brands until June 15. Me and Biosphere company do not receive any benefit from this. Nothing but toxicity," Zdesenko said.

At the same time, he admitted that in some regions of the Russian Federation, cases of selling products under the Biosphere brands could still be recorded for some time.

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