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Chernogolovka is one of the major beneficiaries of the corporate exodus from Russia in the past year, snapping up Kellogg (NYSE:K) Co’s local operations and eyeing a huge increase in its share of the soft drinks market as Coca-Cola (NYSE:KO) and Pepsi cut ties.
According to Chernogolovka, the deal will include two factories and the “Umnitsa” and “Sami s usami” brands.
Kraft Heinz estimates the deal’s value at between 2.5 and 3 billion roubles ($32.4-$38.9 million) but the government is yet to approve the valuation, the Kommersant newspaper reported on Thursday, citing sources.
A representative from Kraft Heinz was not immediately available to comment.
The deal is subject to regulatory approval, Chernogolovka said.
($1 = 77.1000 roubles)
