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CG Foods to acquire GBfoods

Thursday, 28 Oct 2021
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CG Foods, maker of popular noodles Wai Wai, has signed a deal to acquire the Russia and CIS businesses of Spain-based GBfoods.

The financial details of the transaction were not disclosed.

The acquisition will help CG Foods to grow its foothold in Europe and the Commonwealth of Independent States (CIS) regions as well as diversify into culinary products and pastas.

GBfoods has a presence in Western Europe, along with Russia and CIS, Baltics and around 30 countries in Africa.

CG Foods is the food division of CG Corp Global, having operations in sectors like FMCG, hospitality, real estate, telecom, energy, infrastructure, financial services and education.

Currently, CG Foods is producing noodles in Nepal, India, Serbia, Bangladesh and Kazakhstan, while a plant in Egypt is under development.
 
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