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. Last Updated: 07/27/2016

WBD Buys Georgian Dairy Plant

Wimm-Bill-Dann, the country's biggest dairy producer, said Tuesday that it bought Georgian Foods to fuel sales outside its domestic market.

Wimm-Bill-Dann will use Tbilisi-based Georgian Foods, its first production facility in the Caucasus region, to supply Armenia and Azerbaijan and to cover local demand, it said, without giving the terms of the transaction.

Wimm-Bill-Dann is buying companies to expand as economic growth stokes spending on food and beverages. The company has forecast a gain of as much as 35 percent in sales this year and sees "significant growth potential" in all three of its divisions, which make dairy products, baby food and beverages.

"The acquisition is in line with Wimm-Bill-Dann's declared strategy of growing its business by purchasing successful companies with leading market positions and strong brand portfolios," the company said in a statement.