It will complete the multi-stage process in two months
Viciunai Group’s advisers have made up a list of potential buyers for its business in Russia. This list includes over 30 companies. According to a press release, the company hopes to complete the multi-stage process in approximately two months.
It seems that companies from China, Thailand, Russia, Vietnam, India, South Korea, and several Middle Eastern countries have expressed an interest. Also, there have been some offers from Europe. These include food processors and representatives of large retail chains.
Regarding this, D. Matijosaitis, Member of the Board of Viciunai Group said: “The number of candidates should not be surprising. So, there is a unique opportunity to acquire a well-organized business that has been successfully developed for 20 years. Such competition allows us to hope that the process will be successful. Viciunai Group will completely withdraw from the Russian market.”
“Large retail chains are looking to acquire suppliers. Besides, private equity funds are interested in this business. They see it as a good opportunity to acquire an easily realizable value. The food industry is currently in high demand due to its market stability,” he added.
Support for Ukraine
In addition, Viciunai Group has confirmed that business sales consultants in Russia are communicating “intensively” with all potential buyers. The aim is to provide them with financial and legal information related to the company’s activities. Firstly, the company will show a list of buyers with the most serious intentions, followed by negotiations with the selected candidates and the conclusion of the final transaction.
Moreover, D. Matijosaitis confirmed: “We will be the one to not only announce our intentions and initiate the exit process, but will actually leave Russia and completely terminate all business relations with the country. The sales process usually takes about a year, so we are glad that we started it a long time ago and are moving towards the final stages.”
In March, the Russian bombing destroyed a logistics warehouse in Ukraine that belong to surimi giant Viciunai Group.