The Finnish company Huhtamaki has sold the Russian business to the owner of Tasty – that’s it!

The Finnish packaging company Huhtamaki has sold its operations in Russia to Espetina LTD, owned by the owner of Vkusno — that’s it! Alexander Govor and the head of the management company “NefteKhimService” Yuri Kushnerov, the sale price was €151 million. About this reported the company itself.

“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.

As noted ReutersHuhtamaki’s profit after the sale will be about €15 million in the third quarter.

“We believe that the current developments and long-term prospects in Russia will hinder the implementation of our growth strategy and long-term ambitions in this country. We are pleased to complete our review of our strategic capabilities in Russia. As part of this process, we conducted extensive due diligence to find the best buyer and future partner for our local employees, whose safety and well-being continues to be important to us. We believe that Espetina will be a good and committed owner for the business and the future of our employees,” Huhtamaki President and CEO Charles Heolme said in a press release.

The fact that Alexander Govor became interested in acquiring the Russian assets of Huhtamaki, reported yesterday. Company from Russia gone in April of this year.

Huhtamaki is a major global supplier of sustainable packaging. The company operates in 38 countries. In Russia, Huhtamaki production facilities are located in Tatarstan and Ivanteevka near Moscow. Net sales in 2021 amounted to €3.6 billion.

Julia Abugalieva