FDBusiness.com

Unilever is expanding its presence in Russia and enhancing its personal care portfolio with the acquisition of 82% of Concern Kalina, the leading Russian beauty company. The transaction, which is pending required regulatory approvals, values the equity of the total business at RUB21.5 billion (€500 million). Concern Kalina is Russia’s largest local personal care player with leading positions in skin and hair care and an expected 2011 turnover of around RUB13 billion (€303 million).

“This will transform Unilever’s personal care business inRussia, giving us leading positions in skin care and hair care, as well as establishing a presence in oral care. It will also strengthen and re-balance Unilever’s portfolio and competitive position in Russia, an emerging market with considerable potential and one of our priority countries,” comments Paul Polman, chief executive of Unilever. “Organic growth remains the cornerstone of our ambition to double the size of Unilever whilst reducing our overall environmental impact. Acquisitions such as Concern Kalina supplement organic growth and add powerful new brands to our portfolio.”