Huhtamaki sold the Russian business to the owner of “Vkusno – and that’s it”

The Finnish company Huhtamaki, which manufactures disposable tableware, has sold a Russian business to a structure owned by the owners of the Vkusno – i Tochka network, Alexander Govor and Yuri Kushnerov, about this informed press service of the Finnish company. The deal amounted to 151 million euros.

“The Huhtamaki company sold its enterprises in Russia to Espetina LLC. Espetina is a holding company owned by Alexander Govor and Yuri Kushnerov. The deal includes four production units in Russia, which employ 724 people.

It is specified that as a result of the sale, Huhtamaki will be able to make a profit of about 15 million euros in the third quarter, but the final amount will depend, among other things, on the exchange rate of the ruble against the euro. The sale is not expected to have a significant financial impact on Huhtamaki in 2022.

Earlier, the plans of Govor and Kushnerov to acquire the Russian enterprises of the Finnish company were reported by the Reuters agency. According to him, Govor will invest in this transaction the loan funds received from Sberbank.

Against the background of a special military operation in Ukraine in mid-April, the company decided to stop all operations in the Russian market and leave Russia. Since then, she has been looking for buyers for her enterprises, during the transitional period she continued to work.

Huhtamaki is considered the world’s leading manufacturer of disposable tableware and food service packaging. The manufacturer operates in 38 countries, including Russia. Huhtamaki has about 700 employees in Russia. She has been developing her business in the country since 1993, she has factories in Ivanteevka near Moscow and in Tatarstan. The Russian market accounted for about 3% of the company’s total net sales worldwide.

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