RUSSIA: Lebedyansky gets Troya green light
Russian juice producer Lebedyansky has been granted government approval for its acquisition of St. Petersburg-based rival Troya-Ultra.
The deal, first announced last month, received clearance from the Kremlin yesterday (23 October), a Lebedyanksy spokesman told just-drinks today. He declined to reveal the price of the acquisition.
Troya-Ultra's location proved a deal-maker for Lebedyansky. The spokesman said: "It has a strong position in the north-west region, which is a key region of one of our competitors, Multon."
Troya-Ultra is one of the top five juice producers in Russia with a distribution network covering 500 cities in the country.
Lebedyansky has seen sales in Russia grow strongly this year. In August, the company, which produces brands including Ya and Tonus, reported a 32% jump in first-half sales to US$345.1m. Net profit rose 15$ to US$52.4m.
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