Information for fruit and vegetables business in CIS
Russian dairy holding to buy milk canning plant in central Ukraine
Russian Group of companies "Nutritech", incorporating 13 food and agricultural processing enterprises, by the middle of this year is planning to have completed the deal of acquisition of Open Joint-Stock Company "Khorol Milk Canning Plant" (Poltava Oblast, centre of Ukraine), the major producer of infant foods in Ukraine.
The investment memorandum, released by Nutritech, says the processing capacity of the Ukrainian enterprise to be 500 tonnes of milk per day. According to memorandum, the acquisition of this business will permit Nutritech to expand considerably its operations and to strengthen position on the infant foods markets of Russia and CIS countries.
This deal is not the first acquisition of Nutritech outside of Russia. Last year the holding got full control over Estonian diary enterprise Estmilk Production, which, in its turn, owns the largest in central Estonia agricultural conglomerate Agro Piim, incorporating six major producers of raw milk.
The holding informs that with addition of newly acquitted businesses, in 2005 it intends to increase output of its products (specialty foods, diary products for medicinal purposes, infant foods, milk powders, etc.) nearly 13 percent compared to last year - from 158,600 to 179,200 tonnes.