Kraft Heinz sells baby food factories in Russia

This is reported “Kommersant” citing sources, Ukrinform reports.

“The company (Kraft Heinz – ed.) put up for sale its baby food business, which includes two plants with a capacity of 30 thousand tons of products per year and local brands, the value of which is estimated at 3 billion rubles. The baby food market has suffered in the midst of the pandemic, but interest in assets should be strong,” the statement said.

According to the publication, two factories in Stavropol and Ivanovo for the production of baby food – dry, liquid cereals and mashed potatoes, as well as two local brands are put up for sale. Their total cost is estimated at 2.5-3 billion rubles.

At the same time, as noted, Kraft Heinz is not yet selling the Petroproduct-Otradnoye plant in the Leningrad region, which produces canned foods, ketchups and sauces. According to sources, this enterprise brings the bulk of the concern’s revenue in Russia.

Heinz is one of the top five brands in dry food sales for children.

In March, after the start of a full-scale invasion of the Russian Federation into Ukraine, Kraft Heinz announced the suspension of investments in Russia and the export of its products to the country.

According to Yale University, since February 24, more than a thousand foreign companies have suspended their activities in Russia.

As reported, on February 24, Russian President Vladimir Putin announced the start of a full-scale invasion of Ukraine. The troops of the Russian Federation destroy infrastructure facilities, carry out massive shelling of residential areas of Ukrainian cities and villages using artillery, multiple launch rocket systems and ballistic missiles.

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