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Unilever acquires leading Russian sauces business Baltimor
Unilever has announced its intention to acquire Baltimor Holding ZAO’s sauces business, the leading ketchup business in Russia. The acquisition will strengthen Unilever’s existing dressings portfolio and competitive position in Russia, one of its priority countries.
The acquisition, which follows Unilever’s purchase of Inmarko – Russia’s leading ice cream business – 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 about €70m – 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 isn’t material to Unilever overall. The transaction is subject to regulatory approval.
Source: Unilever
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