Moscow based Mint Capital, the private equity investment firm, has made an initial investment into Russian chocolate company Fruzhe. Complete details of the transaction, including volume have not been released.
Based in Russia, Fruzhe is one of the largest producers of chocolate confectionery in the world. It has a total volume of 400,000 tons and garners yearly sales of nearly USD 3 billion. Fruzhe specializes in premium chocolate pralines made from natural berries, fruits and nuts. Russian consumption of premium chocolate continues to grow, rising nearly 15% year over year.
The niche praline industry has risen 10% in the last financial year reported and reached a $1.5 billion market share.
Mint Capital (www.mintcap.ru)
Mint Capital was founded as a private equity investment group in 2000. Its goal is to invest in companies in Russia and the surrounding regions.
Headquartered in Moscow, the company employs ten investment professionals. Mint Capital has two operating funds, Mint I and Mint II.