Coffee producer Tchibo sold Russian business
[ad_1]
The German coffee producer Tchibo GmbH in July ceased to own “Chibo CIS”, follows from the data of the Unified State Register of Legal Entities. Now the Russian business is owned by MVK, the CEO of Tchibo CIS, Mikhail Kovalevsky, and MVK’s share is pledged to Tchibo GmbH.
The interlocutor of “Kommersant”, familiar with the situation, notedthat until the end of 2022 “Chibo CIS” will be able to use the Tchibo and Davidoff brands, and after that the company will continue deliveries under the new brand. According to the source, the Gold brand is being considered – the mail of the Russian company has already received the gold-coffee domain. Cibo CIS and Tchibo GmbH did not respond to the newspaper’s request.
Coffee production took place at the Grand-NN factory in the Nizhny Novgorod region. In addition, part of the products “Chibo CIS” imported from foreign sites Tchibo GmbH. It follows from the company’s reporting that more than 70% of the business in 2020 was provided by the sale of locally produced products. Grand-NN also did not answer questions from the publication.
Ramaz Chanturia, General Director of the Roschaikofe Association, believes that the departure of the foreign brand will not significantly affect the market. According to him, Tchibo’s business in Russia has “faded” over the past few years. He added that it would be almost impossible to bring a new brand to the Russian coffee market, where many well-known players work, without significant investments.
Tchibo was not the only coffee producer to leave the Russian market after the start of Russia’s special operation in Ukraine. In May, the Finnish coffee company Paulig sold the business in the country. Vikas Soi, a citizen of India, a top manager of Milagro Beverage Company, became the buyer of the enterprise in Tver.
Subscribe on “Vedomosti” in Telegram and stay up to date with the main news of the economy and business
[ad_2]
Source link
