Sector News

Orkla Sells Orkla Brands Russia

December 1, 2014
Consumer Packaged Goods
Orkla has entered into an agreement to sell OJSC Orkla Brands Russia to Slavyanka-Lyuks JSC, a member of the Russian confectionery group Slavyanka. Under the agreement, Orkla will divest 100 per cent of its shares in Orkla Brands Russia.
 
Orkla Brands Russia is an established confectionery producer in Russia, with iconic local brands such as Krupskaya, SladCo and Pekar. The company was established in February 2011 through the merger of SladCo and Krupskaya, which have been part of Orkla since 2005 and 2006, respectively. Orkla Brands Russia has production plants in Peterhof outside St Petersburg, Yekaterinburg and Ulyanovsk. In 2013, the company’s net sales totalled RUB 6,114 million (NOK 1,129 million). As of year end 2013, the company had 2,225 employees.
 
Orkla communicated in Q1 2014 that a structural sales process had been initiated.
 
“Orkla has executed a comprehensive restructuring in Orkla Brands Russia over the last couple of years. The company is now well positioned for the future, but we believe that other owners are better positioned to further develop and support the company’s operations,” says Peter A Ruzicka, president and CEO of Orkla ASA.
 
The agreement is subject to approval by the Russian competition authorities.
 
Orkla’s Russian branded nuts company, Chaka, and separate real estate assets in St. Petersburg and Yekaterinburg are not part of this transaction. Separate sales processes have been commenced for the real estate assets.
 

comments closed

Related News

July 21, 2024

Danone taps R&D leader Carla Hilhorst to drive research and innovation strategy

Consumer Packaged Goods

Danone has appointed Carla Hilhorst to the newly created position of senior vice president of research and innovation categories and zones, as the company looks to make science the heart of its business. Hilhorst, who brings over 30 years of experience in research and innovation, will report directly to Isabelle Esser, Danone’s chief research, innovation, quality and food safety officer.

July 21, 2024

Pernod Ricard to sell international wines portfolio to Accolade Wines owner

Consumer Packaged Goods

The move, part of Pernod Ricard’s strategy to enhance its premiumisation efforts, will allow the company to focus more resources on its portfolio of premium international spirits and champagne brands that drive the growth of its business. This decision aligns with the company’s commitment to delivering sustainable value for shareholders, employees, clients and partners.

July 21, 2024

Aryzta appoints former employee Michael Schai as new CEO

Consumer Packaged Goods

Schai – who is the current CEO of Swiss chocolate company Lindt & Sprüngli’s Australian operation – has previously worked with Aryzta from 2015-2018, where he served in roles including managing director for Asia Pacific and global strategic business lead (McDonald’s). The fast-food giant McDonald’s is one of Aryzta’s significant clients.

How can we help you?

We're easy to reach