icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
24 Jan, 2007 00:23

Wrigley to produce Russian chocolate

Wrigley to produce Russian chocolate

American confectionery company Wrigley is buying into Russia's chocolate market. It has signed an agreement to buy 80% of premium chocolate-maker, Korkunov, and plans to acquire the remaining 20% in future.

Wrigley will pay $US 300 MLN for the initial stake , which is three times as much as what Korkunov earned over last year.

The confectionary is the seventh largest in Russia's chocolate market – and number two in premium chocolate, while Wrigley is the leader in Russia's chewing gum sector.