All latest News, Asia, India, China, Russia, Equipment/Technology, Europe, UK, Ireland, News December 2020, Pressreleases, Processing

Lamb Weston / Meijer acquires majority share in Russia’s first large scale fry factory

Potato processor Lamb Weston / Meijer has strengthened its position in the frozen processed potato market in Russia with the acquisition of a majority share in its existing joint venture with the Belaya Dacha Group. The joint venture owns Russia’s largest french fry factory.

According to Peter van Wouwe, CFO Lamb Weston / Meijer, “in 2016 we started a joint venture with the Belaya Dacha Group, because both parties saw unique opportunities in a rapidly growing Russian market. Now, after four years, we are pleased to increase our share, and look forward to continue supporting our Russian customers and international key accounts in optimizing their own value chain and growing their businesses.”

This agreement builds on the successful collaboration with Belaya Dacha Group which started in 2016. At the time, starting a large-scale potato processing plant – the first large french fries factory in Russia – was a key priority for the joint venture partners.

The initial joint venture partnership established that the Belaya Dacha Group would initially have a majority share position, with Lamb Weston / Meijer having the opportunity to increase its ownership position over the years.

The current transaction provides that Lamb Weston / Meijer increases its ownership position in the joint venture to 74.9% from its original position of 35.5%. Belaya Dacha shareholder Vladimir Tsyganov will continue to own the minority share and continue the successful partnership.

The transaction has been approved by the Federal Antimonopoly Service (FAS) in Russia.

Source: Lamb Weston / Meijer

Lukie Pieterse, Editor and Publisher of Potato News Today

Lockwood Mfg

Urschel

Kiremko Strata Invicta

Scotts Precision Manufacturing

Scotts Precision Manufacturing

Dewulf

AgroScout

Restrain

Kooljet

Tomra Food

Solanum International

Haith

GRIMME

Tolsma

Wyma Solutions

Parkland

AVR

Volm Companies

Greentronics

Receive email notifications when we publish news items on PNT

Please enter your email address below to receive email notifications when new posts are published.

Archive of monthly posts

Follow us on Twitter

Translate this page into your own language