Orkla merges Russia confectionery firms

Related tags Russia

Orkla Brands said a merger of its Russian chocolate and confectionery companies into one entity will allow it expand its presence in that market.

The company said that Krupskaya and SladCo will be consolidated under one management team and one organisation to be named Orkla Brands Russia.

Orkla Brands Russia will have about 3,350 employees and a turnover of around RUB 6,800m (€170m). The headquarters, added the group, will be in St. Petersburg.

Vadim Ter-Israelyan has been appointed CEO of Orkla Brands Russia and the chairman of the board will be Paul Jordahl, CEO of Orkla Brands International, said the group.

"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,"​ said Paul Jordahl.

Related topics Manufacturers Emerging Markets

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