21 Sep 2023 13:42

Danone's Russian subsidiary formally renamed H&N - Register

MOSCOW. Sept 21 (Interfax) - JSC Danone Russia has been renamed JSC H&N following the transfer of the Russian business to the Federal Property Management Agency, the Unified State Register of Legal Entities shows.

The renaming documents are dated September 20, 2023. On September 12, the Danone Trade company was renamed H&N Trade.

According to the SPARK-Interfax analytical system, on September 8 the company filed an application to register the trademark H&N HEALTH & NUTRITION. Its main colors are blue, green and white.

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 of the Chechen Republic, Minister of Agriculture Yakub Zakriev was appointed general director of both companies. He succeeds Charlie Cappetti, CEO since April 2017.

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

French Danone announced the transfer of control in 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.