Swiss Nestle builds up 100% stake in ukrainian Volynholding

The Swiss company Nestle has bought a 9.5% stake in PrJSC Volynholding (the Torchyn brand), the largest producer of ketchup, mayonnaise, sauces and seasonings.

According to a company report in the information disclosure system of the National Securities and Stock Market Commission, after the purchase, the share of Nestle in Volynholding became 100%.

According to the report dated September 13, 2018, the company decided to sell 1,900 previously purchased shares to Volynholding’s shareholder. This stake, owned by the company, was 9.5%.

The net income of Volynholding in 2017 amounted to UAH 1.3 billion (7.5% more), net profit some UAH 89.1 million (0.8% more). Information for 2018 is not yet available.

PrJSC Volynholding produces ketchup, mayonnaise, sauces, pickles, mustard, dressings and spices under the Torchyn brand.

Nestle in Ukraine and Moldova has more than 5,500 employees. The company in Ukraine has three production sites (in Kharkiv, Lviv, and Torchyn, Volyn region), as well as one of the five Nestle service centers in the world – Nestle Business Service (NBS Lviv).

Open4business.com.ua