The Finnish concern Valio announced the completion of negotiations with Velcom Group, which will become the new owner of its Russian assets. As part of the deal, Velcom will take over the plant for the production of processed and semi-hard cheese in Ershovo, Odintsovo District, Moscow Region, and the rights to the Viola brand, RBC writes.

“The appearance of a new owner will allow to continue production and sale of products under the brand Viola, one of the most famous brands in the food market of Russia, as well as to maintain the local assortment,” – follows from the message Valio.

In addition, under the terms of the deal, Velcom will be able to produce and sell Valio products under the brands not included in the deal during the transition period, which may last until the end of the year.

The price of the deal is not disclosed. In 2020, sales of Valio’s Russian division amounted to €85 million, or about 5% of the group’s global sales.