Hlebny Dom: increases share in JSC Zvezdny

Helsinki / FI. (fg) Hlebny Dom, bundling the bakery operations of the Finnish Fazer Group in Russia, has increased its stake in the confectionery and bakery plant JSC Zvezdny to 97,14 percent – local newspapers report. Zvezdny is a company that has grown throughout the years from Moscow´s Bakery No. 11 to a technologically highly developed and modern food industry plant. Already in 2005 Fazer Group had acquired 96,68 percent of the Zvezdny bakery. At the moment Zvezdny is one of the biggest manufacturers of bake-off pizza and frozen dough in Russia. The bakery also manufactures pastries and fresh bread. Fazer Russia´s operations grow strongly. In example the turnover 2008 increased by 32,3 percent to 222,5 million EUR (168,2 million EUR in 2007). Fazer is currently one of the leading bakery companies in Russia with sales primarily in the Moscow and St. Petersburg region. In January 2009, Fazer had acquired the majority shareholding of the bakery company BKK Neva, which is, alike JSC Zvezdny, specialised in frozen products.

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