Rushleb Research is a Russian innovative biotechnological producer of ingredients for bakery and confectionary industry, located at Novoorlovskaya special economic zone of Saint-Petersburg. Rushleb operates a brand-new production facility including 2 lines: production of dry sourdoughs and production of various mixes (and improvers).

Shareholders of Rushleb Research have decided to attract a strategic partner for development of the business. BIC Securities acted as an exclusive financial advisor to Rushleb Research and its shareholders during the entire sale process. BIC Securities team actively communicated with several international and Russian strategic investors who expressed interest in the deal during the process. BIC Securities involved Belgium-based strategic investor, Puratos Group, one of the major world players in the bakery, patisserie and chocolate sectors in the competitive sell-side process and successfully led the deal to completion in January 2021.

“Puratos acquires Rushleb to extend its offering of local sourdoughs and allow more bakers in Russia to capitalize on the growing consumer demand for sourdough breads. With this acquisition the aim is to further establish Puratos’ local presence and leadership in bakery, while localizing sourdough production using local raw materials”, Puratos’ local CEO Natalia Petrenko said.

The deal structure involved sale of shares in the operating company. Transaction value is not disclosed.