Nestle, the Swiss-based food and nutrition giant, announced on Feb. 26 that it had purchased a leading Ukrainian culinary company.
The acquisition, valued by analysts at $130-180 million, yields Nestle 100 percent ownership over Technocom, a top Ukrainian producer of dehydrated food products such as noodle-based soups and mashed potato, which are sold under the Mivina brand.
Nestle, one of a handful of multinational companies which has continued to invest in Ukraine despite this year’s recession, said the acquisition enables the group to “complement its culinary portfolio in Ukraine and boost its presence in one of the fastest growing segments of the Ukrainian food market.”
Nestle said it plans to sell Mivina products outside of Ukraine in Central and Eastern Europe. Founded in 1993, Technocom has two factory sites located in Kharkiv, with 1,900 employees and an annual turnover of around $100 million. Its products are currently exported to 20 countries including Russia, the Baltic States, Hungary, Germany, Israel, Poland and Romania. Since entering Ukraine in 1994, Nestle has acquired Lviv’s Svitoch confectionary plant and a Volyn region-based factory that sells sauces and mayonnaise under the Torchyn brand.
Nestle, which launched a new instant coffee production line in Lviv late last year, also imports and sells other Nestle brand products.
