Russian holding company Gosinkor has unveiled plans to establish a major confectionery holding pinned around Krasny Oktyabr (Red October), Gosinkor president Artyom Kuznetsov announced earlier this week.
Go deeper with GlobalData
A group of investors in whose names Gosinkor acts has taken a 51% interest in Krasny Oktyabr. Current boss Anatoly Daursky will remain in charge of the confectionery group.
Gosinkor also holds a controlling stake in confectionery company Rot Front. It is expected that the new move will lead to Gosinkor setting up a new confectionery holding company including both Rot Front Krasny Oktyabr and other confectionery companies.
Krasny Oktyabr is scheduled to hold an extraordinary shareholder meeting on 11 May at which a new board of directors will be elected that will include representatives of the new shareholders.
Krasny Oktyabr and Rot Front between them have about a 10% share of the highly fragmented Russian confectionery market.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
