Nestle Russia is planning to invest more than RUB650m (US$21m) to expand capacity at its Cereal Partners factory in Russia, the company has told just-food.
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Nestle is the leader in the Russian breakfast cereals market with a 55% share of the category in value terms.
“The company is constantly investing in its business, responding to the rapid development of the breakfast cereals segment in Russia,” a spokesperson for the company said.
The decision to increase capacity of the Cereal Partners factory is associated with changes in consumer preferences toward proper nutrition, the spokesperson added.
The factory manufactures products including Nesquik, Fitness and Kosmostars. The company exports its products to CIS countries and plans to further expand its business.
Cereal Partners Worldwide is Nestle’s cereals venture with US food giant General Mills.
Last year, Kellogg boosted its presence in Russia through the acquisition of biscuit and ready-to-eat cereal business The United Bakers Group for an undisclosed sum.
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