CG Foods to acquire Gallina Blanca Russia & CIS business from GBfoods

A binding agreement has been reached between CG Foods and GBfoods. GBfoods' business in Russia/CIS, under the Gallina Blanca brand, is expected to change its ownership from GBfoods to CG Foods, owned by CG Corp Global, within the coming weeks. GBfoods is an international group of culinary products with a presence in 8 popular countries in Western Europe, as well as Russia and CIS, Baltics and approximately 30 countries in Africa. Its Russian operation holds a strong market position with 86% brand awareness for its products.

CG foods will grow its foothold in Europe & CIS regions and diversify into culinary products and pasta with this acquisition. CG Foods will also leverage the existing distribution strength of GBfoods in Russia & CIS to grow its globally renowned noodle brand WAI WAI.

Binod K Chaudhary, chairman, CG Corp Global, said, "I have always dreamt of making WAI WAI a strong global brand, and I am happy to convert this dream into a reality. I believe that this step with Gallina Blanca Russia/CIS will be a milestone in our global journey."

CG Foods is the food division of CG Corp Global, present in a wide number of sectors such as FMCG, hospitality, real estate, telecom, energy and infrastructure, financial services, education, among others.

Varun Chaudhary, managing director of CG Corp Global, said, "The group over the years has delivered remarkable growth driven by rapid international expansion, becoming a global player in the noodles category. CG Foods Central Asia has its presence in Kazakhstan, whereby it manufactures noodles. With this new acquisition in Russia and CIS, CG Foods strongly foresees that it will grow its presence and will play a key role in its future growth plans."

Currently, CG Foods is producing noodles in Nepal, India, Serbia, Bangladesh, Kazakhstan and a plant in Egypt is under development. CG Foods is committed to providing high-quality products and bringing to Russian homes local flavors and popular tastes to cook, leveraging a strong brand, distribution platform, and team. And to do so, we count on the experience, deep global market knowledge and a sound and ambitious long-term growth plan.

CG Foods has a deep professional focus printed in its culture. Its growth and expansion worldwide show its potential to launch new categories and products. Also, its manufacturing capacity, which has reached 140000 tons of noodles per year, is an example of this strength.

CG Corp Global is a multinational corporate operating out of Dubai, comprising over 160 companies and 123 brands in the Global Market. It stands proud with 15,000 employees on its rolls, spanning in businesses in more than 35 countries worldwide.

CG Corp Global is headquartered in Dubai; its objective is to provide world-class services and products in various fields such as FMCG, Hospitality, Real Estate, Telecom Energy and Infrastructure, Financial services, education among others. It is rapidly expanding and has gained significant momentum in the past two decades.

With a turnover of over EUR 1,200 million and a team of around 3,300 employees worldwide, GBfoods operates in Spain, Italy, the Netherlands, Belgium, France, Germany, Sweden, Finland, and approx. 30 countries in Africa. GBfoods' purpose is to deliver culinary solutions (mainly taste enrichers, pasta and table sauces, soups, noodles and other ready meals), adapting its recipes to the markets where it operates, through its leading, iconic brands such as Jumbo, Gallina Blanca, Erasco, Gino, Liebig, Star, Bama, D&L, Grand'Italia and Blå Band. Some of these dearly beloved brands have been in consumers' kitchens for more than 100 years, to the point where they now form an integral part of the local culture in their respective countries.