Lantmannen, a Swedish cereal cooperative, has announced that it has completed its acquisition of Orient Products, a Russian crispbread manufacturer, for an undisclosed sum.
Orient Products is the leader in crispbread in Russia, marketing products under the Schedrie and Kruazett brands. The company is headquartered in Saint Petersburg and has production facilities in Sertolovo, just outside the city.
Lantmannen itself is active in the crispbread space through brands such as Finn Crisp, Vaasan Koulunakki and Vaasan Pieni Pyorea, with the first of these also having a long-standing presence on the Russian market.
Commenting on the deal, Lantmannen Cerealia CEO Krister Zackari said: “The acquisition of Orient gives us a stronger position on the largest food market in Europe and the fastest growing crispbread market. Both FINN CRISP and Orient’s brands are very popular with consumers, which gives us a strong product range in Russia”.