Moscow, 11 November 2002. Wimm-Bill-Dann Foods OJSC today announced 100% acquisition of Tomilino, a core warehouse complex in the Moscow Region. The deal, worth approximately US$6.0 million, provides Wimm-Bill-Dann with a modern logistics center in close proximity to Moscow.
In a further move to enhance operational efficiency and distribution activities, Wimm-Bill-Dann acquired Tomilino to streamline and centralize distribution of its juice products. The company has also entered into an agreement with Boston Consulting Group to review its supply chain management activities.
Dmitry Kolokatov, Head of Juice Division said: “The acquisition of Ruselectrocenter, previously known as the Tomilino warehouse complex, will allow us to optimize our juice distribution network in the key Moscow city and Moscow regional markets. The complex is equipped with the latest technology in automated control systems, and will provide a comprehensive range of services from storage to direct delivery to our clients. It will also allow us to reduce expenses associated with renting various centers.”
The Tomilino facility and logistics center occupies 6 hectares of land, with the total warehouse area of 5,300 square meters and 3,000 square meters of office space. The completely modernized facility can accommodate storage and shipping of 10,000 pallets daily. The company plans to buy 60 additional trucks to transport up to 360 tons of products serving over 400 points of sale per day in Moscow and its suburbs.
Wimm-Bill-Dann Foods OJSC16 Yauzsky Boulevard, Moscow, RussiaPhone: +7 095 733-97-26/9727Fax: +7 095 733-97-25web: http://www.wbd.comE-mail: kagan@wbd.ru
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Wimm-Bill-Dann, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to conform them to actual results. We refer you to the documents Wimm-Bill-Dann files from time to time with the U.S. Securities and Exchange Commission, including our Form F-1. These documents contain and identify important factors, including those contained in the section captioned “Risk Factors” in our Form F-1, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, potential fluctuations in quarterly results, our competitive environment, acquisition strategy, risks associated with operating in Russia, volatility of stock price, financial risk management, and future growth subject to risks.All news