Sector News

FrieslandCampina to sell Russian subsidiary to Ehrmann

May 30, 2021
Food & Drink

FrieslandCampina has agreed to divest its Russian subsidiary Campina to German dairy company Ehrmann.

The transaction is expected to strengthen Ehrmann’s position in Russia, while allowing FrieslandCampina to focus on other consumer markets.

The deal will see Ehrmann take full ownership of Campina, which employs 650 people and has production operations in Stupino.

“This divesture is part of FrieslandCampina’s previously announced strategy to review its position in various markets,” said Roel van Neerbos, president FrieslandCampina food & beverage.

“Under Ehrmann’s umbrella, our Russian consumer dairy business will be able to further develop and realise its full growth potential.”

Christian Ehrmann, CEO of Ehrmann, added: “This acquisition reflects Ehrmann’s strategy of growing its market share in Russia with locally produced, strong brands.”

The transaction is expected to close at the end of next month, subject to various approvals.

Last year, restructuring efforts by FrieslandCampina saw the company announce the closure of a number of facilities in Europe, such as its Yoko Cheese packaging facility in Genk, Belgium.

By Antonia Garrett Peel

Source: foodbev.com

comments closed

Related News

June 24, 2022

Carlsberg announces resignation of CFO Heine Dalsgaard

Food & Drink

Carlsberg has announced the departure of its chief financial officer (CFO), Heine Dalsgaard, after six years in the position. In a statement, Carlsberg said that Dalsgaard was resigning from the post to take up the role of CFO at a private equity-backed company in a different industry.

June 24, 2022

Kellogg to split into three companies, focus on snacks

Food & Drink

Kellogg will split into three independent companies to focus on the snack business, Reuters reported Tuesday. The snacking portfolio will comprise the main business, while the North America cereal unit and the plant-based business will be spun off. The company is also considering a sale of the plant-based business.

June 24, 2022

Mondelēz to buy energy bar company Clif Bar for $2.9bn

Food & Drink

The snacks giant says the acquisition will help build on its commitment to “lead the future of snacking” in key geographies worldwide. Once the transaction is completed, Mondelēz will continue to operate the Clif Bar business from its headquarters in Emeryville, California. The snack giant will also continue to manufacture Clif Bars’ products, which include Clif Bar, Luna and Clif Kid, at its facilities in Idaho and Indiana.