Unilever acquires majority stake in Kalina
Purchase will strengthen consumer giant’s position in Russia
Anglo-Dutch consumer giant Unilever has announced it has purchased an 82% stake in Russian personal care manufacturer Kalina. According to the Wall Street Journal, the €390m agreement is subject to regulatory approval from Russian competition authorities. The acquisition will strengthen Unilever’s position in the Russian personal care market.
“We are delighted to be acquiring Concern Kalina,” commented Unilever ceo, Paul Polman. “This will transform Unilever’s personal care business in Russia, giving us leading positions in skin care and hair care, as well as establishing a presence in oral care. It will also strengthen and rebalance Unilever’s portfolio and competitive position in Russia, an emerging market with considerable potential and one of our priority countries.”
Kalina, which manufactures skin care, hair care and oral hygiene products is a market leader in Russia and is forecasting a full year turnover of €303m. The acquisition is expected to be completed by the year with Unilever planning to launch a mandatory tender offer for the minority holding once this has gone through.