Lithuanian crab stick manufacturer Vici – Viciunai group company – decided to sell the Russian business. According to the group, the agreement was approved in Moscow.
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As Kommersant writes, Vichyunay-Rus’ reports for 2023 indicate that the government commission reached an agreement to sell 100% of Vichyunay-Rus LLC in February 2024.
From the document it appears that the transaction provides for the assignment of credit rights under loan and debt agreements for a total amount of 29.4 million dollars and 1.86 million euros in favor of Ocean Group Management Company.
“Vichyunai-Rus” is a manufacturer of crab sticks, imitations of crab meat and various semi-finished products. The company has a production capacity of 120 thousand tons of products per year. The companies are located in the Kaliningrad region.
At the end of 2023, the company increased revenue from product sales by 11.2% to 18.2 billion rubles. Net profit amounted to 1.26 billion rubles. The beneficiaries of the Viciunai-Rus report are the mayor of Kaunas, Visvaldas Matijosaitis, and Liudas Skerus.
According to Ilya Bereznyuk, managing partner of Agro & Food Communications, the company in Russia has modern production facilities, a wide range and developed distribution. Furthermore, if the agreement does not include the rights to the Vici brand, the new owner will have to make additional investments in marketing, says the expert.
Viciunai Group announced plans to sell the Russian business in spring 2022. However, the process of finding buyers and approving the deal took a long time.
Author:
Natalia Gormaleva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
