Danone Trade renamed H&N Trade

MOSCOW. Sept 13 (Interfax) - Following the transfer of Danone's Russian business to the Federal Property Management Agency, Danone Trade LLC has been renamed H&N Trade LLC, the Unified State Register of Legal Entities shows.

The company has been operating under the new name since September 12 of this year.

JSC Danone Russia is still operating under its current name. It was previously reported that the company would be renamed H&N (Health and Nutrition). The company's bank and contact details have not changed.

As reported, on July 16, Russian President Vladimir Putin signed a decree on the transfer of Danone's Russian business, JSC Danone Russia, to the Federal Property Management Agency under temporary management. The agency received 100% of Danone's Russian business (83,292,493,000 shares of Produits Laitiers Frais Est Europe and 85,000 shares of Danone Trade). Deputy Chairman of the Government and Agriculture Minister of the Chechen Republic Yakub Zakriev was appointed general director of the companies. He succeeds Charlie Cappetti, who has been CEO of both companies since April 2017.

Danone Trade's revenue in 2022 totaled 112.7 billion rubles against 109.9 billion rubles in 2021, while net profit reached 612.7 million rubles versus 1.4 billion rubles, respectively, the SPARK-Interfax analytical system shows. Danone Russia's revenue in 2022 increased to 92.9 billion rubles from 85.1 billion rubles the year before, while net profit decreased to 5.6 billion rubles from 8.9 billion rubles.

French Danone announced the transfer of control of its dairy products business in Russia last October. The media reported on many contenders for the purchase of the business, including large Russian food producers.