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Unilever acquires leading Russian sauces business Baltimor


Unilever today announced its intention to acquire Baltimor Holding ZAO’s sauces business, the leading ketchup business in Russia. The acquisition will further strengthen Unilever’s existing dressings portfolio and competitive position in Russia, one of its priority countries.

The acquisition, which follows Unilever’s purchase of Russia’s leading ice cream business, Inmarko, in 2008 and its commitment to build a state-of-the-art food production facility in Tula, further consolidates the position of Unilever’s business in Russia.

Vindi Banga, Unilever’s President of Foods and Home & Personal Care, said: “Russia is a key market for Unilever, and we believe that the acquisition of Baltimor, which is already a strong ketchup brand in the region, will strengthen our position further. Our world-class research and development expertise and knowledge of the foods business, coupled with Baltimor’s local strengths, can significantly enhance our position in the Russian ketchup and dressings market.”

The acquisition includes ketchup, mayonnaise and tomato paste business under the Baltimor, Pomo d’ Oro and Vostochniy Gourmand brands – accounting for annual turnover of around €70 million – and a production facility at Kolpino, near St. Petersburg. It excludes Baltimor’s branded vegetables, condiment, preserve and juices business and production facilities at Krasnodar and Khabarovsk.

The acquisition consideration is made on a cash and debt free basis and is not material to Unilever overall. The transaction is subject to regulatory approval.

Notes to Editors


* Baltimor Holding was founded in 1995 in St. Petersburg and over the last 13 years it has become the number 1 ketchup manufacturer in Russia. Today, the company has 3 manufacturing and production sites located in Kolpino near St Petersburg, Krasnodar, and Khabarovsk.
* The company’s brand portfolio includes: Baltimor ketchup, mayonnaise, tomato paste and other vegetable condiments and preserves, 8 Ovoschey vegetable juices and nectars, Makosh’ juices, compotes, frozen fruit and berries, Pomo d’Oro ketchup and Vostochniy Gourmand ketchup.
The production unit will compliment the existing Unilever network of factories in Moscow, Novosibirsk, Omsk, Tula, and St Petersburg itself, to supply products primarily for the Russian market.

Unilever Russia

Unilever has operated in Russia since 1992 and has 7 manufacturing and production sites: Moscow (spreads and crème bonjour), St. Petersburg (home care, personal care and tea), Tula (dressings, savory, food ingredients) and ice cream production plants in Tula, Novosibirsk and Omsk and more than 160 representative offices across the country.

The company’s brand portfolio in Russia includes: Beseda, Becel, Brooke Bond, Calvé, Hellmann’s, Knorr, and Lipton, together with Axe, Cif, Clear, Domestos, Dove, Rexona, Sunsilk and Timotei. With the acquisition of Inmarko, the leading Russian ice cream producer, in 2008 company’s portfolio also now includes the Ekzo, Magnat, San-Cremo, Torzestvo ice cream brands, amongst others.

Unilever has invested close to $1 billion in its business in Russia and now employs more than 6,500 people across the country.

Safe Harbour

This announcement may contain forward-looking statements, including ’forward-looking statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995. Words such as ’expects’, ’anticipates’, ’intends’, ’believes’ or the negative of these terms and other similar expressions of future performance or results, including financial objectives to 2010, and their negatives are intended to identify such forward-looking statements. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Group. They are not historical facts, nor are they guarantees of future performance. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including, among others, competitive pricing and activities, consumption levels, costs, the ability to maintain and manage key customer relationships and supply chain sources, currency values, interest rates, the ability to integrate acquisitions and complete planned divestitures, the ability to complete planned restructuring activities, physical risks, environmental risks, the ability to manage regulatory, tax and legal matters and resolve pending matters within current estimates, legislative, fiscal and regulatory developments, political, economic and social conditions in the geographic markets where the Group operates and new or changed priorities of the Boards. Further details of potential risks and uncertainties affecting the Group are described in the Group’s filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and Exchange Commission, including the Annual Report & Accounts on Form 20-F. These forward-looking statements speak only as of the date of this announcement. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.


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