Baring Vostok invests in eco-friendly cosmetics and cleaning product manufacturer Synergetic
Baring Vostok announces its acquisition of a minority stake in Synergetic, a fast-growing Russian manufacturer of environmentally friendly cleaning products and cosmetics. Synergetic is a leader in the market for eco-friendly household cleaning products. Its detergents, cleaning products and dishwashing liquids are made in Russia using high-quality biodegradable components, and are completely safe for children, animals and the environment. Synergetic products are currently available in most of the country’s largest retailers (including Magnit, Pyaterochka, Auchan, Perekrestok, VkusVill, and online stores). At the end of 2019, the company’s revenue doubled from the previous year and amounted to RUB 2.2 billion.
Alexei Zyuzin, founder and CEO of Synergetic, said: «The interest in our company from a large international private equity fund is confirmation of our company’s great growth potential and the effectiveness of our business model. We are confident that with the help of Baring Vostok’s skills and expertise, we will be able to strengthen our leadership among manufacturers of safe and environmentally friendly home products, to scale our business, and achieve a new level of development».
Vadim Uzberg, Partner at Baring Vostok, noted: «We have long been following the Synergetic success story under the leadership of a talented management team, and we are happy to be a part of it. Synergetic is already a leader in green household products and has won the trust of consumers throughout Russia, but we are sure that this is only the beginning. The company is perfectly positioned to significantly increase its market share and become the leading player in its sector as consumer demand for green products grows».
For further information, please contact: