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. |