Ortica Frozen Foods

History

2022: Sale of Russian business to Agama Group of Companies

In mid-July 2022, it became known about the departure of the producer of frozen vegetables and fruits Hortex from. RUSSIAN FEDERATION Russian the Polish The company sold its business to a fish supplier. " Agama The company did not disclose the value of the transaction.

The fact that from July 11, 2022, 100% of Ortika Frozen Foods LLC belongs to Agama is reported in the SPARK-Interfax system. A Kommersant source on the market confirmed the deal.

Frozen vegetables and fruits producer Hortex sold Russian business

Hortex planned to leave the Russian market even before the crisis caused by Russia's special military operation in Ukraine, and was looking for buyers, Alexander Samokhvalov, managing director of Berries of Karelia, told the publication. Hortex imported or bought most of the raw materials for production from other manufacturers, and profitability significantly decreased even after Russia introduced a food embargo in 2014, a newspaper source in the industry noted.

Rusbrand executive director Alexei Popovichev points out that Hortex is a well-known brand on the Russian market. If "Agama" after the deal manages to keep it for itself, then this will be an additional plus for the group, he said. According to Alexander Samokhvalov, the Hortex brand will be retained in Russia, most likely until the end of 2022 to fulfill existing contracts with retail chains, as well as taking into account the seasonality of production. After that, he believes, Agama will have to produce vegetable and berry products under its own trademark or create a new brand.

Hortex on its official website calls itself the leader in the sale of frozen vegetables and fruits in Central and Eastern Europe. In Russia, the company produces and packages products at partner enterprises - two factories in the Moscow region and one in Karelia by mid-July 2022.^[1]

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