Valio sells its Russian activities to the Serbian Velkom Group. The transaction will be completed without a waiting period and the staff will be taken over. The parties have agreed not to disclose the purchase price. The deal includes the “Viola” brand (for the Russian market only) and the processed cheese factory on Ershovo. The Valio brand will disappear from the Russian market after the packaging material is used up.
In 2020, Valio had a turnover of €87m in Russia, about 5% of the total business.