Swedish bakery company Fazer has signalled its intention to further expand in Russia with the acquisition of a 95% stake in St Petersburg-based company BKK Neva.
Fazer already operates four production sites in Russia under the name Hlebny Dom.
“Russia is one of our most important growth areas. We are one of the biggest players in the market – especially in St Petersburg. We see great potential to grow our Russian business and this acquisition will further our strategic goals in Russia,” a spokesperson for the company told just-food today (23 January).
However, the spokesperson declined to comment on whether the group is seeking out further acquisitions to fuel growth.
“We are working on expanding in Russia, but naturally we must evaluate the economic situation and market conditions,” 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.

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 GlobalDataBKK Neva manufactures frozen dough products, as well as ready-made bakery and confectionery products.
Under Fazer’s ownership, BKK Neva will modernise production and expand its product line-up, the company indicated.
Fazer declined to comment on the financial details of the transaction.