Damate to produce ice cream
18 May 2020
Damate Group, one of the largest Russia-based agroholdings, acquired a 100%-stake in Penzaholod, Russia’s ice cream producer. The acquired company produces more than 30 types of ice cream under the Nashe brand, and exports it to Kazakhstan, Belarus, and Armenia. The company has a full production cycle including 12 production lines, waffle baking capacities, a laboratory, and machinery park. With this deal, Damate will continue developing its milk processing segment. In 2019, revenue of Penzaholod was $2.7 million. The worth of the deal has not been disclosed.