Russian food company Wimm-Bill-Dann (WBD) Foods has announced that it has acquired the Georgian dairy group Georgian Foods.
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WBD Foods said the purchase of Georgian Foods, which is headquartered in Tbilisi, is in line with its strategy of growing its business through the addition of “successful companies with leading market positions and strong brand portfolios”. Financial terms were not disclosed.
Georgian Foods is the third largest dairy producer in Georgia. Its dairy plant in Tblisi, which opened in 2002, is one of the largest such units in the city, producing both traditional and local varieties of dairy products, including milk, matsioni, soured cream and cottage cheese.
The Tbilisi plant will be WBD’s first production facility in the Caucasus region. In addition to serving the local Georgian market, the factory will also supply neighbouring markets in Armenia and Azerbaijan.
WBD already has some 37 manufacturing units in Russia, Ukraine, Kyrgyzstan and Uzbekistan, employing more than 19,000 people.
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By GlobalData
