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food union



"Food Union Group",an international group of companies producing dairy and ice-cream takes a top position in the Northern European market. The owner of the ice-cream maker "Premia" received 214 mils. EUR (225 ml. USD) worth of investments from PAG, one of the largest private capital companies and present investor of Meridian Capital”.
Food Union Group" is one of the leading milk processing and ice-cream making companies in Northern Europe. The investments form PAG and "Meridian Capital" will help carry out the development of "Food Union" and will particularly focus on China, where "Food Union" has almost completed the construction of two modern milk produce companies. Not only will PAG provide the invested capital but also the knowledge specific to a "Food Union" countries as well as the operation experience, needed for the managerial team. "Food Union" will receive 161,6ml. Eur (170,0 ml. USD) worth of investment from PAG, and 52,4ml. Eur (55,0 ml. USD) from the "Meridian Capital".
"The year 2016 was special for "Food Union" company. In Europe, we consolidated our positions in the markets of represented countries and purchased two ice-cream manufacturers in Norway and Romania. In China, we kicked off the building of two modern milk produce companies and expect that before 2018 they will start supplying quality milk products to the Chinese consumers. The investments from PAG and the additional investment from "Meridian Capital" is recognition of "Food Union" strategy. We look forward to working with PAG to create a strong dairy production business in China,"said Andrey Beskhmelnitskiy, the CEO and founder of "Food Union Group".
"We are happy to be able to work with "Food Union" "Meridian Capital". We help them build a business which would provide the best dairy products to China. Quality, protein-based food, such, as "Food Union" produces is in great request among increasingly rich and demanding Chinese consumers. Applying its technology, scientific-technological knowledge and its potential "Food Union" has a unique ability to provide products that Chinese market needs," claimed Weijian Shan, the chairman and CEO of PAG.
Entering China, which has one of the largest and fastest-growing consumer markets in the world is a significant step for "Food Union" company," said Askar Alshinbayev, the managing partner of "Meridian Capital".. –"We believe that working with PAG we will be able to hold on to our strategy to provide European quality dairy products, which the demanding Chinese customers will enjoy and trust."
In the European market "Food Union Group" will continue to focus on the making of a high added value products as well as dairy and ice-cream production segments and strengthening its position in Baltic states, Nordic countries, Central and Eastern Europe and CIS countries, also, the development of export opportunities in the Middle East and China.
About "Food Union Group"
"Food Union Group" is an international group of dairy products and ice-cream production companies that work in nine counties. "Food Union Group" unifies the largest milk produce and ice-cream production companies as well as sales agencies in Northern, Central and Eastern Europe, including "Rīgas Piena Kombināts", "Valmieras Piens" and "Rīgas Piensaimnieks" in Latvia, "Premia" in Estonia and Lithuania, "Premier Is" in Denmark, "Isbjorn Is" in Norway, "Alpin57Lux" in Romania, "Hladokombinat No. 1" in Russia, "Ingman Ice Cream" in Belarus and two pilk factories currently under construction in China. "Food Union Group" is currently the leading dairy processing company in Latvia and the largest ice-cream manufacturer in the Baltic States and Denmark. "Food Union Group" exports to over 25 countries worldwide, having the main markets in Latvia, Lithuania, Estonia, Poland, Netherlands, Great Britain, Azerbaijan, Russia and China. There are currently 2500 employees working for the "Food Union Group" company.
About PAG
PAG is one of the largest Asian alternative investment management companies, whose managed capital reaches over $16,0 billion (USD). The company handles private capital funds, real estate funds and absolute profit strategies as well as over 380 employees in nine regional branches of the company. Since the company was established in 2002, PAG invested over $30 billion (USD) in the Asian market. Investors include the main pension funds in North America and Europe as well as independent property funds in Asia and the Middle East.
About "Meridian Capital"
"Meridian Capital" is an international capital investment group investing in food and drinks, transport, real estate and natural resource sectors. "Meridian Capital" invested in "Food Union" for the first time in 2013. Before that, "Meridian Capital" and the founder of "Food Union" financed purchasing of "Unimilk" and its development. This company became the leading dairy products manufacturer in Russia and was ultimately sold to a world dairy product company.
More information
Linda Mežgaile
"Food Union” personnel manager
Tel. +371 29772050
Tim Morrison
PAG public relations
Tel. +852 3719 3375
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