Wimm-Bill-Dann Foods has said that it will resist future takeover moves from multinationals looking to expand in Russia.
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With its high growth rate and increasing level of wealth, Russia is expected to become one of the strongest consumer markets in the EU. This makes it a tantalising region for multinationals.
International food companies that have made acquisitions in Russia over the past year include the likes of Unilever, PepsiCo, Kellogg, Kraft and Nestlé.
Indeed, French dairy giant Danone has built up a stake in the Wimm-Bill-Dann amounting to about 18% of shares.
“Although Wimm-Bill-Dann is a tempting target as it is an important player in Russian dairy… it is also well positioned to resist any hostile takeover as the group’s founders have retained 47% of outstanding stock,” an analysts with Alfabank told just-food. “They have said that this is their intention.”
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By GlobalDataRather than viewing itself as an acquisition target, Wimm-Bill-Dann has signalled that it is on the acquisition hunt.
“We’re still in acquisition mode,” Tony Maher, Wimm-Bill-Dann’s chief executive, said recently.
Wimm-Bill-Dann is a leading light of the Russian dairy market, with about a two-thirds market share.
