Nordic Business Report-June 28, 2006-Orkla ASA completes acquisition of Russian chocolate company CJSC Krupskaya Confectionery Company
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The Norwegian multi-sector group Orkla ASA said on Wednesday (28 June) that it has completed its previously announced acquisition of a majority stake in Russian chocolate company CJSC Krupskaya Confectionery Company.
Orkla acquired a holding of over 75%.
No financial details were disclosed.
Krupskaya Confectionery Company is the market leader in St Petersburg and northwestern Russia. The company has 1,000 employees and reported revenues of USD50m in 2005.
One US dollar (USD) is worth approximately 0.56 British pounds (GBP).
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