Nestlé has snapped up Russia confectioner Ruzskaya Confectionery Factory (RKF), the Swiss food giant has announced.
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Nestlé unveiled the acquisition this morning (26 November) and said the deal would “boost [its] presence in the fastest growing segment of the Russian chocolate market, the premium category”.
Chocolate sales in Russia are booming. Barry Callebaut CEO Patrick De Maeseneire said last month that consumption in Russia would jump by nearly a third over the next four years.
Financial details of the RKF sale were undisclosed but Nestlé said the business had generated sales of around US$51m last year and is forecast to see turnover jump 40% this year.
“The move is a further testimony to Nestlé’s commitment to the premium chocolate market across the world,” Nestlé said.
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By GlobalDataThe company said it would look to extend the production capacity at RKF’s production site in Ruza, near Moscow.
RKF’s brands, which include Comilfo and Ruzanna, would also receive a boost outside Moscow and St Petersburg, thanks to Nestlé distribution network in the country.
