One of Russia’s richest women, Olga Belyavtseva, retained a minority stake in FrutoNyanya brand baby food maker Progress JSC after structures close to NLMK’s main owner Vladimir Lisin acquired a majority stake. RBC writes about this with reference to two sources.

One of the richest women in Russia, Olga Belyavtseva, remained Lisin’s partner in FrutoNyan – RBC
  1. News

Author:

Subscribe to RB.RU on Telegram

According to one of the interlocutors, the cost of the transaction could exceed 75 billion rubles. The CEO of Evermount Capital Group (Belyavtseva’s asset fund), Anton Chertkov, declined to comment on its details, but confirmed that the businessman remains a shareholder and will continue to participate in the management of the company.

  • Progress JSC was created in 2008 following Lebedyansky’s reorganization and sale of its juice business to PepsiCo. As of the end of 2023, Progress shareholders included Olga Belyavtseva, as well as Svetlana and Nina Bortsov. The Bortsovs, who owned up to 65% of the shares, sold their shares and completely withdrew from shareholders, while Belyavtseva retained her minority stake, which amounted to up to 35% of the company through Progress Capital.
  • The company is the largest baby food manufacturer in Russia. The main brands are FrutoNyanya, Malysha, Lipetsk Pump Room. Progress production is located in Lipetsk on an area of ​​35 hectares. The company’s capacity allows it to produce more than 2 billion product packages per year. Progress JSC’s revenue for 2023 reached almost 38 billion rubles, net profit – 6.4 billion rubles and the debt burden is zero.

As an RBC source explained, the new majority shareholder was interested in Belyavtseva remaining a partner in the company, given her experience and contribution to business development. The interlocutor added that Belyavtseva could retain a blocking stake, which would allow her to remain a junior partner with certain control tools.

Olga Belyavtseva was ranked 12th in Forbes’ ranking of the “20 richest women in Russia” in 2023 with a fortune of $600 million. He is also a shareholder in Biplast, a manufacturer of polymer products, and in the company Agronom-Sad, which grows apples. . His fund, Evermount Capital Group, is actively developing the FoodTech platform.

Vladimir Lisin, whose fortune according to Forbes estimates at $26.6 billion in 2023, also leads projects in the agricultural sector. Through its Rumelko group, it is engaged in feed production and dairy agricultural enterprises, including dairy complexes, the construction of which will allow the group to enter the top five producers of raw milk in Russia.

According to Bloomberg, at least 12 Russian businessmen received 1 trillion rubles in dividends in 2023 and the first quarter of 2024. Among them is Lisin – 121 billion rubles.

RB.RU recommends the best digital solution providers for your business: click here

Author:

Karina Pardaeva

Source: RB

Previous articleYandex Music revealed the amount of content removed over six months at the request of the authorities
Next articleUS elections on November 5: what you need to know
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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here