A binding agreement has been reached between CG Foods and GBfoods. GBfoods’ business in Russia/CIS (Commonwealth of Independent States), under 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 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.
With this acquisition, CG foods will grow its foothold in Europe & CIS regions as well as diversify into culinary products and pastas. CG Foods will also leverage the existing distribution strength of GBfoods in Russia & CIS to grow its globally renowned noodle brand WAI WAI. CG Foods is the food division of CG Corp Global.
Varun Chaudhary, Managing Director of CG Corp Global, says “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 where by it is manufacturing 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.