Saturday, July 22, 2017

Kalina sold to Unilever

The Yekaterinburg concern Kalina has been sold for more than $125 million to Unilever.

According to Oblgazeta.ru, Unilever purchased another 15.02 percent stake in Kalina, which plans to adopt recommendations for the receipt of offers to purchase shares of the company.

In October, Unilever entered into an agreement to acquire 82 percent stake in Kalina, Russia's largest cosmetics manufacturer, for $525 million. The price eventually increased to $547 million, with an estimated value of the concern at $815 million.

Kalina is a leading manufacturer of cosmetics in Russia and is responsible for 30 percent of the market for face creams and more than 45 percent of the Russian market for mouthwash, Oblgazeta.ru reports.

"The acquisitions of companies such as Concern Kalina strengthen our organic growth and add to our portfolio of new powerful brands," Paul Polman, the head of Unilever, said, according to Oblgazeta.ru.

Unilever, one of the world's leading manufacturers of consumer goods, owns such brands as Lipton tea, Dove soap, Calve mayonnaise and the deodorants Rexona and Axe. It is represented in more than 100 countries.