Krupskaya and SladCo to join forces
Orkla Brands has decided to merge its Russian chocolate and confectionery
companies into one entity named Orkla Brands Russia.
Krupskaya and SladCo will be consolidated under one management team and one
organisation. The integration process has already started, and the new
organisation will be effective from 25 February 2011. Orkla Brands Russia will
have about 3,350 employees and a turnover of approx. RUB 6,800 million. The
headquarters will be in St. Petersburg.
Vadim Ter-Israelyan has been appointed CEO of Orkla Brands Russia. He will start
in his new position from 24 February. The chairman of the board will be Paul
Jordahl, CEO of Orkla Brands International.
"Combining the best of both organisations, we will improve our competitive
position in a demanding Russian market. The establishment of Orkla Brands Russia
is an important step in our long-term commitment in the Russian chocolate and
confectionery business. We will keep and develop the local brands, thereby
maintaining the Russian tradition and proud history," says Paul Jordahl.
SladCo has been owned by Orkla since 2005. In 2010, the company had net sales of
RUB 3,800 million and 2,100 employees. SladCo is the market leader in Urals and
South Volga, with production in Ekaterinburg and Ulyanovsk.
Krupskaya was acquired by Orkla in 2006. The company is located in St.
Petersburg, and is the market leader in Northwest Russia. The company had net
sales of RUB 3,000 million in 2010, and 1,250 employees. Over the past years,
Krupskaya has fortified its position in Northwest Russia by acquiring several
companies and trademarks.
Vadim Ter-Israelyan, 44, has been CEO of SladCo since 2007. He has a degree as
Diploma Engineer from Yerevan Engineering University and an MBA in Finance from
the AUAC, California. He has wide experience in leadership and sales from
Unilever, Wimm-Bill-Dann, and Kraft Russia.
Philip Wegh, 52, has been CEO of Krupskaya since 2007. He has been promoted to a
position as Director Operations in Jotun, one of the world's leading
manufacturers of paints, coatings and powder coatings, and an Orkla associate.
Mr. Wegh will be responsible for building a new factory for Jotun in the greater
St. Petersburg area. He will start in his new position on 1Â April.
For more information, please contact:
HÃ¥kon Mageli, Director Corporate Affairs, Orkla Brands at +47 928 45 828
Olga Agafonova, External Relations Manager, Krupskaya at +7 911 925 26 63
St. Petersburg, 24 February 2011
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Orkla ASA via Thomson Reuters ONE
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