Russia: Bonduelle concludes negotiations

The Bonduelle Group has today announced the conclusion of negotiations regarding the acquisition of the agro-industrial and commercial assets of French co-operative CECAB in Russia and in the countries of the Confederation of Independent States (CIS). This acquisition, the plan for which was announced in October, should take effect in the first quarter of 2012 for the start of the sowing season thus assuring the 2012 harvest. It is however still subject to the agreement of the Russian competition authorities.

Bonduella has been present in Russia and in central and Eastern European states, since the mid 1990s, where it has enjoyed a strong market presence in the canned vegetable sector.

Bonduella has three factories in the region, two in Hungary and one in Russia.
which is currently operating at maximum capacity. In 2007 the CECAB group, which has been present in Russia since 2001, invested in the construction of a factory in Timachevsk, 30 kilometres from the Bonduelle plant.

This acquisition by Bonduelle aims to take over the commercial assets of the CECAB group in Russia, rapidly bring the CECAB farms up to maximum vegetable-growing capacity and enable obvious synergies, logistical and other, resulting from the geographical proximity of the two agro-industrial plants.

Source: www.reuters.com

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