Unilever today announced that it has signed an agreement to acquire leading Russian ice cream company Inmarko for an undisclosed amount.
The acquisition will further strengthen Unilever's position as the world's number one ice cream business. It will also strengthen Unilever's portfolio and competitive position in Russia, one of its priority countries.
Inmarko, established in 1991, is the leading ice cream company in Russia, with a turnover of approximately €115m in 2007. The company has a strong brand and product portfolio with clear market leadership in Central and Eastern Russia and a fast-growing business across all regions of the Russian Federation and Kazakhstan. It has an extensive supply chain network including three factories in Novosibirsk, Omsk and Tula, and currently employs more than 4,500 people.
Vindi Banga, Unilever's President for Foods, said: "Inmarko is a great brand that is well recognised by Russian consumers. We will put Inmarko at the heart of our ice cream business in Russia, and build on its successful strategy, powerful portfolio, and great talent and know-how. At the same time we will be looking together for opportunities to enrich and strengthen its competitiveness with Unilever’s global scale and category expertise."
Chairman of Inmarko Dmitry Dokin has added: "We think this deal will give our business development a whole new perspective. Unilever's experience and resources will provide significant impetus for Inmarko's brands".
The transaction is subject to regulatory approval and is expected to be completed in the first half of 2008.