Lantmännen Cerealia has signed an agreement to acquire the Russia-based company Orient Products LLC, in order to strengthen the geographical presence within one of its core categories, crisp bread. Orient, which is based in St. Petersburg and has 300 employees, is a leading company in crisp bread in Russia.
"Crisp bread, where we are one of the largest global players with brands like FINN CRISP, Vaasan Koulunäkki and Vaasan Pieni Pyöreä, is an important category for us. Therefore, this is a good opportunity for Lantmännen Cerealia to strengthen our position in Europe’s fastest growing crisp bread market", says Krister Zackari, CEO at Lantmännen Cerealia.
The transaction is expected to close by beginning of September, after approval by the Russian competition authority. The parties have agreed to keep the purchase price confidential.
For further information, please contact:
Krister Zackari, CEO Lantmännen Cerealia
Phone: +46 10 556 48 48
E-mail: krister.zackari@lantmannen.com
Lantmännen’s Press Office
Phone: +46 730 46 58 00