Swiss food giant Nestle has acquired Russian confectioner Ruzskaya Confectionery Factory (RKF).
Unveiling the acquisition, the Swiss company said the deal would “boost (its) presence in the fastest growing segment of the Russian chocolate market, the market category.”
Though the financial aspects of the RKF sale was not disclosed, Nestle said the business had generated sales of around $51 million last year and the forecast is a jump of 40 per cent this year, reports just-food.com.
“The move is a further testimony to Nestle’s commitment to the premium chocolate market across the world,” the Swiss company statement said.
It said it would look to extend the production capacity at RFK’s production site in Ruza, near Moscow.
RKF’s brands, which include Comifo and Ruzanna, would also receive a boost outside Moscow and St. Petersburg, helped by the distribution network of Nestle in Russia.
