LONDON and MOSCOW, September 4, 2014 /PRNewswire/ --
VIY Management (VIYM), a leading independent private equity advisor managing funds on behalf of a wide range of private and institutional investors, is pleased to announce that it has completed the acquisition on their behalf of a stake in French Kiss, a leading premium-segment chocolate producer in Russia. Funds raised from the acquisition will be used to finance the Company's investment programme through 2017.
French Kiss is one of the leading producers and distributors in Russia's fast-growing premium chocolate and confectionary market. Founded in 2003, the Company has 16 boutique stores in Moscow, and over 18 franchises in key regions across Russia. The Company's production and warehouse facilities are based in and around Moscow.
French Kiss aims to become the number one player in Russia in the premium hand-made chocolate and confectionary space by 2017, in terms of sales, production volumes and number of retail outlets. To this end, the Company intends to significantly increase its production capacity as well as to double the number of its stores.
Andrey Yakunin, VIYM partner and co-founder, said:
"We are extremely pleased to be involved with French Kiss, an exciting and exclusive premium chocolate company. The top-end chocolate and confectionary market in Russia continues to grow, making this an ideal time to invest. With company growth projected at 40% year on year, we will be actively supporting French Kiss throughout the investment programme and working to achieve the company's aim of becoming Russia's number one player."
Hussein Yamaniylmaz, CEO and majority shareholder of French Kiss, added:
"We are grateful to VIYM for its interest and belief in our business, and view our cooperation as an important milestone for our company. I am confident that they will add considerable value to our business, and that together we should be able to ensure our continued profitable growth."
For further information on the deal: http://www.viym.ru/en/news/318/
SOURCE UK Press Office for VIY Management