FAS allowed United Tea Company to acquire Russian assets of Lipton
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The Federal Antimonopoly Service (FAS) granted the petition of United Tea Company LLC for the purchase of fixed production assets and intangible assets of Ekaterra LLC. This was reported by the press service of the department in Telegram channel.
The department came to the conclusion that the deal will not lead to a restriction of competition in the tea market. According to Kommersant, the key subject of the purchase was the capacity for the production of 16 thousand tons of tea per year. Kommersant’s interlocutors in the market estimated these assets at approximately 750 million rubles.
Ekaterra LLC was founded as the Russian division of the Dutch Ekaterra, the largest tea producer in the world, whose brand portfolio includes Lipton, PG Tips, Pukka, etc. The Dutch company announced its exit from the Russian market announced in August 2022.
The buyer, Russian United Tea Company LLC, produces tea under the brands Eastford, Berryford, Kama Sutra and Green Standard. According to the Unified State Register of Legal Entities, 50% of the company is owned by Alexander Konov (Director of the Petr Konchalovsky Foundation). Another 25% each belongs to Alexander and Larisa Pronin (previously, Mr. Pronin was the first vice-president of AvtoVAZ, now he is the general director of the Luzhniki sports complex).
Ekaterra’s capacities will make it possible to occupy more than 10% of the market. Kommersant’s interlocutors previously called the moment for expanding tea production by Russian companies appropriate.
Read more about the deal – in the material “Kommersant” “Lipton to be brewed again”.
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