Nestlé and Danone eye Russian dairy processor

INTERNATIONAL – European dairy giants Nestle and Danone are both eyeing Russian dairy processor Wimm Bill Dann, according to reports this week.

The news comes just six weeks after Wimm Bill Dann issued shares on the New York stock exchange, when Danone bought a 4% interest in the company. It is reported that Wimm Bill Dann could fetch up to 1.1 billion euro.

Wimm Bill Dann was formed in 1992 and has a turnover of 570 million euro from 14 sites across Russia. It has performed well since 1998, when the devaluation of the Russian rouble made imported food expensive in Russia. The company’s name comes from its founder’s passion for tennis and the Wimbledon championship.

Nestle already has already pumped significant investment into six food factories in Russia, but currently has no dairy interests in the country.