Krupskaya, a Russian confectionery company part of Orkla of Norway since 2006, has announced that it will acquire 100% of OOO Peterhof, a producer of chocolate spreads and cookies based in St. Petersburg. Peterhof employs 450 people. The parties have agreed not to reveal the financial details of the transaction.The deal is subject to approval by the Federal Antimonopoly Service. Orkla enjoys market leadership in chocolate paste spreads in Norway under our 'Nugatti' brand. Krupskaya General Director, Philip Wegh said "The biscuit production of Peterhof will complement Pekar’s wafer and sponge cake portfolio, and eventually we may want to relocate all our flour confectionery production to the Peterhof facility, which has room to expand".

Peterhof has a leading market position in chocolate paste spreads with its «Academy of Chocolate,» «Vkusnyitsa,» «Djenilla,» and «Smeshariki» brands. Peterhof is also a producer of biscuits under the «Day by Day» brand, and instant porridge under the «Vkusnyetsa» and «5th Element» trademarks. Peterhof has annual net sales of approximately USD 17 million, while Krupskaya’s 2009 annual net sales amounted to approximately USD 88 million. Krupskaya employs about 1,000 staff.

Source: flex-news-food.com