EXCLUSIVE AGREEMENT FOR THE DEVELOPMENT OF INALCA IN RUSSIA AND OTHERS 11 EURASIAN COUNTRIES
Press Release
EXCLUSIVE AGREEMENT FOR
THE DEVELOPMENT OF INALCA (Cremonini Group)
IN RUSSIA AND
OTHERS 11 EURASIAN COUNTRIES
• Inalca and the Knightsbridge
Group have signed a partnership for the development of food
distribution and meat production activities in Russia
and the neighbouring countries
through the founding of a new company, “Inalca Eurasia Holdings”.
• The Knightsbridge Group will invest 60 million Euro to acquire 40% of the holding company that manages Inalca’s business in Russia.
Castelvetro di Modena, March 25, 2014
- Inalca (Cremonini Group), and the Austrian investment company, the
Knightsbridge Group, through Cascade International Holding, have signed a
strategic partnership for the joint development of food distribution and meat production
of activities in the Eurasian markets on an exclusive basis.
In execution of the agreement Inalca Eurasia Holdings was created, which will
manage all activities currently developed by Inalca in Russia. The company, 60% owned by Inalca, will
be 40% owned by Cascade International (Knightsbridge Group). The investment of
the Knightsbridge Group is 60 million Euro, corresponding to an Equity Value of
over 150 million Euro, with a multiple equal to 8 times the Ebitda.
The Cremonini Group has been present in Russia
since 1985, currently operating a plant for the production of hamburgers in Moscow and 5 logistics platforms (2 in
Moscow, St. Petersburg , Rostov
and Novosibirsk) for the
distribution of more 2,000 food products to over 2,500 customers including
restaurants, hotels and the community. In addition, in two months, a
slaughterhouse with a capacity of 50,000 head per year is scheduled to open in
the Orenburg region. In
2013, the Group recorded a turnover in the Russian market of over 250 million
Euro, with an Ebitda of 25 million Euro (+25% compared to 2012).
Given the specific know-how of the Cremonini Group in the food sector and the strong
expertise of the Knightsbridge Group in the Eurasian area, the new company will
develop significant synergies and will permit the acceleration of the expansion
of Inalca’s business in the territory of the Russian Federation and 11 Eurasian
countries: Armenia, Azerbaijan, Belarus,
Georgia, Ukraine, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan and
Uzbekistan. An area of 345 million people, with various countries that
enjoy a high level of economic growth favoured by natural resources and a young
population. The first market outside Russia where it is planned to open a
logistics and food distribution platform will be Kazakhstan.
For the agreement, the parties have availed themselves of the support of the
consulting firm Appeal Strategy & Finance, the company managed by
Alessandro Profumo e Isidoro Lucciola.
Cremonini, with over 9,000 employees and a turnover in 2013 of 3.5 billion Euro, of which more than 34% abroad, is one of the largest food groups in Europe and operates in three business areas: production, distribution and catering. The Group is leader in Italy in the production of beef and processed meat (Inalca and Montana) and in the marketing and distribution of food products to the foodservice sector (MARR). It is leader in Italy in the train station buffets, has a significant presence in the major Italian airports and motorway restaurants and is one of the largest operators in Europe in the management of onboard catering (Chef Express). Finally, it is present in commercial catering with the steakhouse chain branded Roadhouse Grill.
The Knightsbridge
Group is one of the leading investment and consulting companies in Eastern
Europe and the CIS countries, focusing on Russia and Kazakhstan. With a global
business experience and expertise, Knightsbridge consists of over 25 companies
operating in a wide range of industries: food and agriculture, energy,
utilities, real estate, multimedia, cyber-security, high‐tech and
telecommunication. Knightsbridge has a consistent record of significant
achievements extending to over more than a decade. The Knightsbridge Group has
enabled multinational companies to enter new markets, increase their market
share in certain segments and participate successfully in tenders to optimise
their offers and bids.
During the last decade, the Knightsbridge Group's partners and clients have
included large international companies and global corporations, including but
not limited to Agfa, Alcatel‐Lucent,
Areva, Huawei, BP, CNOOC, Telefonica, Thales.
Contact:
Mr. Luca Macario. Phone: +39 059 754630
Mobile +39 335 7478179
E-mail: luca.macario@cremonini.com