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| Unilever buys Baltimor's sauces business |
| Bloomberg / Moscow Apr 30, 2009, 00:34 IST |
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Unilever NV, the world’s second- largest consumer-products company, agreed to buy ZAO Baltimor Holding’s sauces unit to add Russia’s biggest ketchup maker to its growing interests in the country. The purchase includes Baltimor’s plant at Kolpino near St Petersburg which makes ketchup, mayonnaise and tomato paste and has annual sales of about$92 million, Unilever said in a statement on Wednesday. The price wasn’t disclosed.
Unilever has identified Russia as a priority for expansion as it seeks to build on a decade-long growth record in the country. The company last year bought Inmarko, a Russian ice cream producer, and is building a plant in the Tula region to add to its seven existing sites in the country.
“Russia is a key market for Unilever and we believe the acquisition of Baltimor, which is already a strong ketchup brand in the region, will strengthen our position further,” Vindi Banga, Unilever’s president for foods and home and personal care, said. in the statement.
The purchase excludes Baltimor’s vegetables and juices business, as well as production facilities at Krasnodar and Khabarovsk, the statement shows.
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