RUSSIA: Arkada to invest in cereals business
Macaroni manufacturer Arkada Agrarian Holding has announced its intention to augment its current interests with the addition of a cereal business.
In the week ending 5 February, the company acquired a 51% stake in Yadritsa JSC for RUB35m (US$1.238m), Arkada owner Maxim Antonov was reported to have said in Russian publication SKRIN.
Yadritsa has the capacity to process up to 100 tonnes of buckwheat each day. Arkada intends to invest an additional US$3m in the introduction an umbrella brand, Antonov, for macaroni and buckwheat.
- Focus: Nestle CEO plan to balance sales, earnings
- Does Kraft Heinz want to swallow Unilever whole?
- Will Kellogg's DSD exit help it grow in US snacks?
- Comment: Meal kits in US - don't believe the hype
- Is Mondelez's margin target hurting sales?
- Nestle plans restructuring as 2016 profit misses
- Danone eyes efficiency, agility with new structure
- Kraft Heinz pursuing Unilever in takeover move
- Kraft Heinz returns to organic growth, ups margins
- Aryzta CEO, CFO resign amid strategic review