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Krupskaya's acquisition of Peterhof approved

The Orkla-owned confectionary company Krupskaya has signed a final agreement to acquire LLC Peterhof, a leading producer of chocolate paste spreads and biscuits.

The deal is now approved by the Russian Federal Antimonopoly Service.

Under the agreement, Krupskaya is to take over 100% of the shares in Peterhof, including factory, production equipment and trademarks. The seller is Investment Company Renord-Invest.

Peterhof has a leading market position in chocolate paste spreads, and is also a producer of biscuits and instant porridge. The company has annual net sales of approximately USD 17 million, employs 450 people and is located in the Lomonosov District of Leningrad Region.