French dairy giant Groupe Danone, has announced that it is acquiring Chok and Rolls, the Russian soft cake business of Spanish confectionery firm Chupa Chups.
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Danone said it would make the acquisition via its Russian subsidiary Bolshevik.
The Chok and Rolls business had sales of around US$20m in 2003 under its Tornado brand, and is one of the major players in the fast growing Swiss roll segment in Russia, the company said.
Danone said the acquisition would allow it to consolidate its leading position in the Russian biscuits market and to reinforce its presence in Eastern regions of Russia such as Siberia and the Urals.
Danone has been present in the biscuits market in Russia since 1994, when it acquired Bolshevik, which had sales over $60m in 2003.
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By GlobalDataThe transaction is subject to the approval of the Russian antitrust authorities.
