Unilever Completes Ketchup Acquisition

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The Anglo-Dutch consumer goods giant Unilever has completed the acquisition of Russian food condiments company Baltimor, a prominent producer of ketchup, mayonnaise and tomato paste products with an annual turnover of close to US$100mn. BMI sees plenty of promise in the deal. Baltimor's ketchup range accounts for over 50% of industry sales in the country. We expect the consumption of food condiments to rise sharply in line with our forecast that through to 2013, food consumption in Russia will increase by 62.8% and reach RUB10.8trn (US$466bn).