Europe Foods GB

History

2022: Company sold to Korean holding HYSG Group

The South Korean holding HYSG Group (part of the HY Group, which owns the Doshirak brand) in October 2022 bought the Russian manufacturer Gallina Blanca and became the sole shareholder of Europe Foods GB. The company in the Nizhny Novgorod region under the Gallina Blanca brand produces bouillon cubes and seasonings, mixtures for cooking first and second courses, instant soups and pasta.

2021: Nepal's CG Foods buys Europe Foods GB

At the end of December 2021, the Federal Antimonopoly Service (FAS) of Russia granted a petition to sell CJSC Europ Foods GB, the Russian structure of the Spanish company GBFoods, which produces instant food under the Gallina Blanca brand. The buyer of the enterprise was noodle producer CG Foods, part of the Nepalese conglomerate Chaudhary Group.

In early February 2022, GBfoods announced that the change of the main shareholder would not entail significant changes in the company's activities in the Russian market, and the Gallina Blanca brand would remain on it. The management and executive team, working conditions with business partners, as well as the company's details will not change. Offices, manufacturing and distribution operations will operate as usual.

CG Foods bought Europe Foods GB

The parent company GBfoods decided to sell CJSC Europe Foods GB, as it plans to focus on developing markets in Europe and Africa. At the same time, the strategy of the buyer, the Chaudhary Group conglomerate, includes expanding its business in Russia and the CIS countries, GBfoods said in a statement.

According to Kommersant, other companies were considering GBFoods' Russian business for purchase. At the same time, the Gallina Blanca brand itself was not included in the deal. The value of the transaction could be in the range of 1-1.5 billion rubles, the publication says.

The deal is scheduled to close in February 2022. After that, 100% of the shares of CJSC Europe Foods GB and the rights to produce and distribute products under the Gallina Blanca trademark in Russia and the CIS countries will be owned by Chaudhary Group.

According to NielsenIQ, in January - November 2021, sales of instant noodles in the Russian Federation increased by 16% year-on-year in monetary terms and by 6.1% in kind.^[1][2]

Notes