18 April 2007 - French dairy group Bel has acquired a Ukrainian dairy company located in Shostka in the Sumy region for an undisclosed sum.
Shostka dairy has reportedly been growing for the past several years and has become attractive to the French dairy firm, which is seeking to strengthen its position in the eastern European market.
"We are intensifying our business in a region where we are already well positioned, notably in the Czech Republic, Slovakia and Poland," said Francis Le Cam, the Bel Group vice-president for Europe, in a statement.
Bel Group’s acquisition of Shostka dairy follows the purchase of the ‘Gervais’ brand in the Czech Republic from rival Danone in January 2007.
In 2006, Shostka reported sales of nearly USD 44 million. The company, which has a workforce of 1,000, is active in the hard and semi-hard cheese sector.
The Bel Group produces famous cheeses such as the Laughing Cow, Leerdammer, Apericube, Kiri and Minibabybel. The company employs 9,000 people globally and recorded 1.77 billion euro in turnover in 2006.