Raisio plc’s consumer business in Russia transferred to the new owner
Raisio plc, Stock Exchange Release, May 13, 2022
The transaction of Raisio plc’s consumer business in Russia to Copacker Agro Ltd has been completed. The Russian authorities have registered the transaction on May 12, 2022 and the business of Raisio plc’s subsidiary OOO Raisio Nutrition has been transferred to the buyer, Copacker Agro Ltd.
Raisio signed agreements to sell consumer business in Russia on April 29, 2022. According to the agreement OOO Raisio Nutrition, the subsidiary responsible for Raisio’s consumer business in Russia, was sold to the Russian company Copacker Agro Ltd. Raisio’s Russian subsidiary has used the Nordic trademark in the Russian and Belarusian markets, among others. In these markets, the rights to the trademark were sold to the Estonian company Nordgate Trading Oü.
The total sale price was EUR 1.5 million. For the divestment of its consumer business in Russia, Raisio will record divestment loss of some EUR 3.6 million, of which Raisio recognised an estimated impairment loss of EUR 2.9 million in its first quarter EBIT. Raisio Group classified the operations sold as assets held for sale in the reporting for the first quarter of 2022 and reported them as discontinued operations.
Raisio plc’s Stock Exchange Release on April 29, 2022:
https://www.raisio.com/en/newsroom/?article-id=C30C2ED8A0B18AA1#feed
Further information:
Pekka Kuusniemi, CEO, tel. +358 50 537 3883
RAISIO PLC
Raisio’s purpose is to make food which is good for Health, Heart and Earth. Our growth drivers and focus areas are Benecol® and plant stanol ester solutions, plant based foods, branded oat products for consumers and oat as raw material for industry. Our strong brands include for example, Benecol®, Beanit®, Elovena®, Sunnuntai®, Torino® and Benella®. In our products the focus is on well-being, health, good taste and responsibility. Raisio's values − courage, fairness and drive − guide us towards our targets. Raisio’s shares are listed on Nasdaq Helsinki Ltd. In 2021, the Group’s net sales totaled EUR 246 million and comparable EBIT was EUR 22 million. Raisio employs about 400 people. www.raisio.com.