OAO Belebey, based in Belebey, in the Republic of Bahskortostan, close to the border with Kazakhstan, is currently a subsidiary of the Neral Group.
Savencia said OAO Belebey, which was founded in 1932, possesses a ‘significant milk collection zone and high performance manufacturing facilities.’
The company’s products include traditional Russian cheeses marketed under the Belebeevsky brand and specialty cheeses marketed under the Belfor and Belster brands. The company has 620 employees.
Savencia said the acquisition is an integral component of its international growth strategy, is in a country with a high level of cheese consumption and will develop a strong position for specialty brands in the Russian market.
The proposal for majority control will be submitted to the applicable competition authorities.