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The Kraft Heinz Company clinched a deal on acquisition of Ivanovo Baby Food Combine. The deal was approved by Federal Anti-Monopoly Service of Russia; the advisor of the deal was VTB Capital. The transaction amount was not disclosed
Kraft Heinz invests in Ivanovo region
The Kraft Heinz Company clinched a deal on acquisition of Ivanovo Baby Food Combine. The deal was approved by Federal Anti-Monopoly Service of Russia; the advisor of the deal was VTB Capital. The transaction amount was not disclosed.
Emin Mammadov, the Regional President of Kraft Heinz Russia, shared the plans for new asset: “The minimum program is to retain the staff of Baby Food Combine, to reach stable operation and to increase the output volume. The maximum program is to bring products produced in Ivanovo to foreign markets”.
The production in Ivanovo will be the third production site for Kraft Heinz in Russia. At the moment, the company owns two largest in its sector in Russia production complexes in Otradnoye, Leningrad Oblast, and Georgievsk, Stavropol Krai.
The Kraft Heinz Company was founded as a result of consolidation of Foods Inc. and HJ Heinz Company in July, 2015. The new company became the world’s fifth largest food manufacturer with the turnover of $28 billion.
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