Orkla Brands has announced the merger of its Russian chocolate and confectionery companies, Krupskaya and SladCo, into one unit.
The new entity, named Orkla Brands Russia, will be headquartered in St Petersburg. It will have around 3,350 employees under one management team and generate combined sales of RUB6.8bn (US$23.4m).
Go deeper with GlobalData
Vadim Ter-Israelyan, currently CEO of SladCo, will serve as CEO of the enlarged group. Paul Jordahl, CEO of Orkla Brands International, will be Orkla Brands Russia’s new chairman.
“Combining the best of both organisations, we will improve our competitive position in a demanding Russian market. The establishment of Orkla Brands Russia is an important step in our long-term commitment in the Russian chocolate and confectionery business. We will keep and develop the local brands, thereby maintaining the Russian tradition and proud history,” Jordahl said.
Orkla acquired SladCo in 2005 and Krupskaya in 2006.
