Orkla acquires Russian confectionery company SladCo

Orkla is acquiring SladCo, a leading Russian confectionery manufacturer. The company will generate estimated revenues of approx. USD 160 million in 2004. SladCo Group has 4,000 employees.
The SladCo Group holds strong positions in a number of confectionery market segments in Russia. The group has production facilities in Yekaterinburg (Ural) and Ulyanovsk (Volga).
SladCo, which means "sweet" in Russian, was introduced to the Russian market in 2001 as both a brand and the company name.
Since 1997, the company s major owners have been funds managed by Baring Vostok Capital Partners, one of Russia s leading private equity firms. Personnel, including the managing director Garry Wilson, have agreed to continue working with the company after Orkla s acquisition. All top managers in SladCo have more than five years experience in international companies or organisations, as well as many years managerial experience in Russian companies.
With its population of 143 million, Russia is the largest country in Europe. Russia s market for groceries ranks as number five in Europe.