The CEO of the Russian Direct Investment Fund (RDIF), Kirill Dmitriev, and the CEO of CDC IC, Laurent Vigier, today participated in the 23rd session of the Russian-French Council for economic, financial, industrial and commercial cooperation in the presence of French Economy and Finance Minister Bruno Le Maire and Russian Economy Minister Maxim Oreshkin.
During this session, RDIF and its French partner CDC International Capital (CDC IC) signed documents extending and deepening their joint investment partnership. The new agreement enables RDIF and CDC IC to broaden their collaboration and to allocate up to 25% of the 300 million euro joint investment fund through tickets below 20 million Euros, particularly in attractive projects for SMEs in both France and Russia.
The parties, who have already committed capital with other sovereign wealth funds in a first joint transaction in June 2016 (ARC International), today signed at the CEFIC with Hervé Balusson, President of Olmix Group, a MOU (Memorandum of Understanding) with the company, a leading French producer of algae-based solutions for animal nutrition, plant care and human care, to support a 15 million Euro investment plan to extend its production capabilities in St Petersburg. This investment shall enable the group to increase its presence in Russia and the CIS (Commonwealth of Independent States) region where it will be able to distribute all the product lines developed by the Group, from Animal Care to Plant Care or Human Care products. The group has a business target of growing the proportion of its revenues generated in Russia to over 50 million Euros in 2022.
Mr Hervé Balusson, Olmix Group President, and the two representatives of RDIF and CDC International Capital.
RDIF and CDC International Capital continue to actively assess various investment opportunities with the objective of taking up minority positions in French groups, active in various sectors, looking to expand into Russia, as well as Russian companies keen to grow their presence in France.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), declared:
"We are pleased to further extend our cooperation with our French colleagues from CDC International Capital, and we welcome their intention to focus on investments in Russia with RDIF. This agreement shall favor the development of French SMEs in Russia. Our investment teams are already engaged in various discussions as demonstrated through the signature of the MOU with French agribusiness player Olmix Group, specialist in marine biotechnology. In the near future, we expect to announce further joint transactions".
Laurent Vigier, CEO of CDC International Capital (CDC IC), stated:
“We look forward to further developing our historical relationship with RDIF. This agreement underlines once more RDIF’s commitment to French groups in Russia, and the extension of their collaboration with our teams at CDC IC equally signals a mutual willingness to support Russian companies expanding in the French market. We welcome the signature of this MOU with Olmix Group, an innovative French company in the agribusiness sector. This investment shall enable the group to expand its activity and grow further in a very promising region - Russia and the CIS - while also strengthening its territorial positioning in Brittany, where the group was founded".
Hervé Balusson, President of Olmix Group, concluded:
“This partnership with CDC IC and RDIF represents a major opportunity for Olmix Group and it is an important sign of trust in our no-pesticide and -antibiotic solutions as well as our Aroma Health products".
Russian Direct Investment Fund (RDIF) was established in 2011 to make equity co-investments, primarily in Russia alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information at www.rdif.ru.
About CDC International Capital
CDC International Capital is a subsidiary of Caisse des Dépôts which is dedicated to direct investments alongside sovereign funds and other large international institutional players. CDC Capital International is also involved in various asset classes that meet the needs of the French economy and the expectations of its partners. Using these vehicles, CDC International Capital manages the capital share of Caisse des Dépôts and is responsible for the selection and monitoring of its investments alongside its partners.
For more information about CDC International Capital please visit http://www.cdcicapital.fr.
About Olmix Group
Founded in 1995, Olmix Group is an innovative medium-sized company and a leader in the marine biotechnology space. It has developed complementary business lines in the following areas :
- Animal Care is a division focused on solutions around well-being, health and animal nutrition. It aims to reduce the use of antibiotics, decreasing mycotoxin risk and improve digestive efficiency/welfare and immunity for animals
- Plant Care is a division focused on providing organic plant nutrition solutions to improve soil life activation, soil fertilization, plant health optimization, etc.
- Human Care is a division offering solutions to improve human health by replacing additives, preservatives, emulsifiers and thickeners through algae-based natural ingredients
The group aims to generate over 150 million Euros in revenues by 31st December 2017. It has offices in 25 countries and distributes its products in over 100 countries with strong estimated growth over each continent. With this investment, the group aims to generate additional revenues of around 50 million Euros in Russia and aims to generate 300 million Euros across all geographies by 2022.