Baring Vostok purchases a stake in the pharmaceutical company Kvadrat-C

Kvadrat-C, a Russian pharmaceutical company and producer of dietary supplements, announces that Baring Vostok has purchased a 16% stake in the company. Kvadrat-C plans to use the funds for business development and marketing. The companiesy does not disclose the amount of investments.

Kvadrat-C is a rapidly growing pharmaceutical company that offers an extensive and diverse line of dietary supplements. The company’s current portfolio includes 220 products that are available at pharmacy chains and through major online platforms. In recent years, the company has noted a new generation of customers familiar with its product categories. The influx of new customers helped increase the company’s revenue from the sale of dietary supplements by 50% in 2019, and by 65% in 2020.

The Russian dietary supplements marked has demonstrated steady growth. According to DSM Group, a business intelligence company, the commercial market for dietary supplements was worth RUB 74.1 billion in 2020 (up 17.1% from 2019). As over-the-counter products, dietary supplements are enjoying brisk sales growth through both pharmacies and online retail (online pharmacies, marketplaces).

The additional investments will expand the company’s production capacity and increase its outlays for marketing.

Oleg Komarov, one of the co-founders of Kvadrat-C, said: “The pandemic has spurred growth in the dietary supplements market in Russia, and we are seeing that more and more people are becoming regular customers. Baring Vostok has vast experience and a broad portfolio of projects in the consumer and pharmaceutical sectors; this expertise is important and beneficial for us in shaping our business’s future growth strategy. Our partnership with Baring Vostok speaks to the excellent potential of our business model and will certainly help us achieve market leadership.”

Vasily Veldyaksov, investment director at Baring Vostok, added: “Kvadrat-C has considerable expertise in the industry. The pandemic has greatly accelerated growth in the dietary supplements market and reinforced the trend of preventive healthcare, including among a younger generation. Thanks to Kvadrat-C’s successful business model and experienced team, we expect the company’s mass-market products to enjoy success as substitutes for higher-priced imports.”

About Kvadrat-C

Established in 2015, Kvadrat-C is a rapidly growing pharmaceutical company focused on the production of dietary supplements. The company’s mission is to help people improve their health and enjoy active longevity. Its production facilities are capable of producing more than 50 million packages per year. The company offers original formulations, high quality and affordable prices for products that are available in Russia and in 11 countries in Europe and the CIS.

About Baring Vostok

Baring Vostok is a leading private equity investment fund focusing primarily on the Russian and CIS markets. Long-term investors in Baring Vostok include pension and university funds, sovereign wealth funds, as well as funds of funds in North America, Western Europe, Asia and the Middle East. Over its 27 years in the market, Baring Vostok funds have invested more than USD 3.7 billion in 87 projects in Russia, the CIS and other countries in the region. The companies that make up Baring Vostok’s fund portfolio are an ecosystem of first-class Russian companies that are market leaders in Russia and abroad. They include Ozon, Kaspi, Skyeng, IVI, Viasat, VkusVill and many others.



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