Japan’s largest noodle maker Nissin Foods Holdings Co. has entered the Russian market through the acquisition of a 33.5% stake in Angleside, the holding company of Russia’s largest instant noodle maker Mareven Food Central.
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Nissin is eyeing growth in the expanding Russian noodle market as demand for premium noodle products is on the rise in the country.
“As demand for instant noodles falls in Japan’s rapidly aging society, now is the time to invest overseas in growing markets such as Russia’s,” a Nissin spokesman told just-food.
Nissin paid JPY26.8bn (US$293.3m) for its stake in Angleside.
According to Nissin, Mareven Food Central has annual sales of about JPY30bn and net profit of some JPY2bn.
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By GlobalDataIn a statement, Nissin said it aims to drive Mareven Food’s market share growth beyond its current 41%.
