Russian ketchup maker Baltimor has reportedly said that it is not in talks with Anglo-Dutch consumer goods giant Unilever over a possible takeover.

Rumours surfaced earlier in the week that Unilever had signed a protocol of intent to buy 100% of Baltimor Holding, the parent of Russian ketchup giant Baltimor.

However, Bloomberg reported today (17 April) that the Russian sauce company has said that it is in talks with investment funds and Russian banks over the sale of a minority stake. Funds raised would be used to pay down debt.

When contacted by just-food earlier this week, Unilever declined to comment on the report. However, a spokesperson did underline the group’s commitment to expanding in central and eastern Europe.

“Our strategic priorities are developing and emerging markets, personal care and vitality. CEE would obviously fit into the first of these,” the spokesperson said.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Unilever officials could not be reached for further comment today.