MOSCOW (Reuters) -Kraft Heinz has agreed to sell its baby food business in Russia to local drinks and snacks maker Chernogolovka, the U.S. food giant said on Friday, as domestic firms continue to capitalise on the departure of Western brands.
Chernogolovka has been one of the major beneficiaries of the corporate exodus from Russia in the past year, snapping up Kellogg Co’s local operations and eyeing a huge increase in its share of the soft drinks market as Coca-Cola and Pepsi cut ties.
According to Chernogolovka, the deal will include two factories and the “Umnitsa” and “Sami s usami” brands.
“We anticipate closing the deal in the second half of 2023 (Q3) and will continue working with Chernogolovka post-completion, to ensure a smooth integration,” a Kraft Heinz spokesperson told Reuters.
The deal has been in the works since before the conflict in Ukraine, a Kraft-Heinz spokesperson added.
“The decision…
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