Unilever buys Russia's Inmarko
Unilever buys Russian ice cream maker Inmarko
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Monday, 04, Feb 2008 11:27
Unilever has announced its purchase of Russian ice cream company Inmarko for an undisclosed amount in a statement today.
The maker of Lynx body spray and other consumer goods said the acquisition will strengthen its competitive position in Russia - one of its "priority countries".
"Inmarko is a great brand that is well recognised by Russian consumers," said Vindi Banga, Unilever's president of foods.
"We will put Inmarko at the heart of our ice cream business in Russia."
Unilever employs 179,000 workers in almost 100 countries, and had annual sales of nearly €40 billion (£30.14 billion) in 2006.
Unilever currently has four factories operating in the Russian Federation, with investments totalling over $600 million (£300 million) in its economy.
Inmarko is one of the leading ice cream companies in Russia, employs 4,500 people and had a turnover of €115 million (£86.64 million) in 2007.
"We think this deal will give our business development a whole new perspective," said Dmitry Dokin, chairman of Inmarko.
"Unilever's experience and resources will provide significant impetus for Inmarko's brands," he said.
The maker of Mentadent and Lipton Iced Tea's share price has slid 1.57 per cent, or 27p, to 1,690p during trading this morning in London.