European frozen potato-products venture Lamb-Weston/Meijer is looking to take majority control of a business in Russia in which it owns a minority stake.
Lamb-Weston/Meijer, itself a venture between US-based Lamb Weston Holdings and Dutch group Meijer Frozen Foods, is awaiting Russian regulatory approval for the move.
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In 2016, Lamb-Weston/Meijer and Russian vegetables products business Belaya Dacha set up a venture in Russia, opening a factory two years later in the city of Lipetsk. The plant manufactures fries and wedges for customers in Russia, principally for the foodservice market. Customers include McDonald’s, Burger King and KFC.
Lamb-Weston/Meijer told just-food the partners planned for Belaya Dacha to have a majority stake initially. “It has always been the plan to change positions at some point in time. Belaya Dacha has recently decided to offer Lamb-Weston/Meijer to take that step now and bring its share down to 25.1% This means that Lamb-Weston/Meijer would increase its share to 74.9%,” the company said. “We are currently still finalising the agreement which we expect to close in the next weeks to come.”
Lamb Weston Holdings and Meijer Frozen Foods each own 50% of the Lamb Weston/Meijer venture, which was set up in 1994, is based in the Netherlands and sells frozen potato products principally in Europe.
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