Ukrainian confectionery giant steps up production

By Catherine Boal

- Last updated on GMT

Related tags: Confectionery market, Latvia, Estonia, Baltic sea

Ukraine's largest confectionery company, Corp Roshen, has announced
the acquisition of a major Lithuanian factory in an effort to
promote its products throughout the European market.

The site, consisting of a pastry factory, was bought from investment company Invalda in a deal which reportedly cost the sweet-maker $2m (€1.6m).

With increased production now on the cards for Roshen, the company hopes to gain a foothold in the confectionery market of the Baltic States and successfully maintain its leading position in the domestic market.

The factory has the capacity to produce up to 25 tonnes of pastries per day and has previously exported goods to Latvia, Estonia, Japan, Sweden and the US.

Invalda are selling the plant in a move to streamline operations and jettison its food industry concerns.

According to the Ukrainan government, the country's confectionery market is around one million tonnes a year by volume.

Corp Roshen manufacture 30 per cent of all Ukranian confectionery with a production volume of 200,000 tonnes annually and posted profits of €12.4m last year.

The toffee and chocolate producer began selling confectionery five years ago in the stable Russian market and now manufacturers over 200 products from factories across Europe.

Related topics: Markets

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