11.02.2005: Orkla's acquisition of SladCo, a leading Russian manufacturer of chocolate and confectionery, has been approved by the Russian competition authorities, and the deal has now been closed.
The SladCo Group has 4,000 employees and an annual turnover of around NOK 1 billion. The Group holds strong positions in several segments of the Russian chocolate and confectionery market. SladCo has factories in Yekaterinburg (Ural) and Ulyanovsk (Volga). SladCo, which means "sweet" in Russian, was introduced on the Russian market as both a brand and a company name in 2001.
"This investment is in line with Orkla's strategy for growth in Russia and Ukraine. SladCo has succeeded in a category that is important for Orkla and provides a platform for further development in the Russian market. By acquiring this company, we are positioning ourselves in a growing Russian market," says Håkon Chr. Andersen, Director of Orkla's operations in Russia and Ukraine.
The parties have agreed not to disclose the purchase price.
With its 143 million inhabitants, Russia is the largest country in Europe. The Russian grocery market is the fifth largest in Europe.