Unilever announced its intention to acquire Baltimor Holding ZAO's sauces business, the leading ketchup business in Russia. The acquisition will further strengthen Unilever’s existing dressings portfolio and competitive position in Russia, one of its priority countries.
The acquisition, which follows Unilever's purchase of Russia's leading ice cream business, Inmarko, in 2008 and its commitment to build a state-of-the-art food production facility in Tula, further consolidates the position of Unilever's business in Russia.
The acquisition, which follows Unilever's purchase of Russia's leading ice cream business, Inmarko, in 2008 and its commitment to build a state-of-the-art food production facility in Tula, further consolidates the position of Unilever's business in Russia.
Vindi Banga, Unilever's President of Foods and Home & Personal Care, said: "Russia is a key market for Unilever, and we believe that the acquisition of Baltimor, which is already a strong ketchup brand in the region, will strengthen our position further. Our world-class research and development expertise and knowledge of the foods business, coupled with Baltimor's local strengths, can significantly enhance our position in the Russian ketchup and dressings market."
The acquisition includes ketchup, mayonnaise and tomato paste business under the Baltimor, Pomo d' Oro and Vostochniy Gourmand brands – accounting for annual turnover of around €70 million – and a production facility at Kolpino, near St. Petersburg. It excludes Baltimor's branded vegetables, condiment, preserve and juices business and production facilities at Krasnodar and Khabarovsk.
The acquisition consideration is made on a cash and debt free basis and is not material to Unilever overall. The transaction is subject to regulatory approval.
Source: www.unilever.com
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