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
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