Sale of Russian Operations
We advised Valio in its negotiations on the divestment of Valio’s Russian operations to Velkom Group. The transaction includes Valio’s Russian operations and the processed cheese factory in Ershovo. The Viola® brand processed cheese sold and produced in Russia is also part of the transaction. Product brand rights to the Valio Viola® fresh cheeses sold in Finland and produced by Valio in Finland are not included in the transaction.
In 2020, Valio’s net sales in Russia were EUR 87 million and accounted for approximately 5 per cent of Valio’s global net sales of about EUR 1.8 billion. On 7 March 2022, Valio decided to withdraw from operations in Russia. With this transaction, all Valio’s operations in Russia end immediately.
Valio exports products to some 60 countries around the world. The total value of Valio’s international operations and exports is about EUR 750 million annually, i.e. approximately 40 per cent of Valio’s total net sales.