Exhibit 21

1. CEDC International Sp. z o.o., a limited liability company organized under the laws of Poland.

2. Fine Wines and Spirits, Sp z o.o., a limited liability company organized under the laws of Poland.

3. Polmos Bialystok S.A., a closed joint stock company formed under the laws of Poland.

4. Bols Hungary, Kft, a limited liability company organized under the laws of Hungary.

5. Classic Sp z o.o., a limited liability company organized under the laws of Poland.

6. Copecresto Enterprises Limited, a limited liability company organized under the laws of Cyprus.

7. OOO Parliament Production, a limited liability company organized under the laws of the Russian Federation.

8. OOO Parliament Distribution, a limited liability company organized under the laws of the Russian Federation.

9. Lugano Holding Limited, a limited liability company organized under the laws of Cyprus.

10. ISF GmbH, a limited liability company organized under the laws of Germany.

11. Peulla Enterprises Limited, a limited liability company organized under the laws of Cyprus.

12. WHL Holdings Limited, a limited liability company organized under the laws of Cyprus.

13. Dancraig Wine & Spirits Trading Limited, a limited liability company organized under the laws of the Isle of Man.

14. Global Wine & Spirit Holdings Limited, a limited liability company organized under the laws of Cyprus.

15. Tisifoni Wines & Spirits Limited, a limited liability company organized under the laws of Cyprus.

16. OOO Whitehall-Center, a limited liability company organized under the laws of the Russian federation.

17. OOO WH Import Company, a limited liability company organized under the laws of the Russian Federation.

18. OOO Whitehall Severo-Zapad, a limited liability company organized under the laws of the Russian Federation.

19. OOO Whitehall-Saint-Petersburg, a limited liability company organized under the laws of the Russian Federation.

20. OOO Whitehall-Siberia, a limited liability company organized under the laws of the Russian Federation.

21. OOO WH Rostov-na-Donu, a limited liability company organized under the laws of the Russian Federation.

22. Bravo Premium LLC, a limited liability company organized under the laws of the Russian Federation.

23. CEDC Finance Corporation, LLC, a limited liability company organized under the laws of the State of Delaware in the United States.

24. CEDC Finance Corporation International, Inc., a corporation organized under the laws of the State of Delaware in the United States.

25. Jelegat Holdings Limited, a limited liability company organized under the laws of Cyprus.

26. JSC “Distillery Topaz,” a closed joint stock company organized under the laws of the Russian Federation.

27. JSC “Russian Alcohol Group,” a closed joint stock company organized under the laws of the Russian Federation.

28. Latchey Limited, a limited liability company organized under the laws of Cyprus.

29. Limited Liability Company “The Trading House Russian Alcohol,” a limited liability company organized under the laws of the Russian Federation.

30. Lion/Rally Lux 1 S.A., a closed joint stock company organized under the laws of the Netherlands.

31. Lion/Rally Lux 2 Sarl, a limited liability company organized under the laws of the Netherlands.

32. Lion/Rally Lux 3 Sarl, a limited liability company organized under the laws of the Netherlands.

33. Mid-Russian Distilleries, a corporation organized under the laws of the Russian Federation.

34. OOO “First Tula Distillery,” a limited liability company organized under the laws of the Russian Federation.

35. OOO “Glavspirttirest,” a limited liability company organized under the laws of the Russian Federation.

36. Pasalba Ltd., a limited liability company organized under the laws of Cyprus.

37. PWW Sp. z o.o., a limited liability company organized under the laws of Poland.

38. ZAO “Sibirskiy LVZ,” a closed joint stock company organized under the laws of the Russian Federation.