“See what real fascism tastes like!”
June 24, 2015
Translated from Polish by J.Hawk
The Roshen concern, which belongs to Ukraine’s president Poroshenko, is opening an office in Europe. It wants to become one of the five biggest players on the Polish market in the next five years. Roshen Europe (RE), a subsidiary of the Roshen Confectionary Corporation which is owned by Poroshenko, registered itself in Poland, according to Puls Biznesu. Already one of the biggest confectionary producers in the world, it wants to compete for clients with such brands as Wedel, Wawel, Colian, and Mieszko. Experts suggest the Ukrainian oligarch’s entry into the Polish market won’t be easy.
Why did Roshen decide to enter Poland? Puls Biznesu suggests that the main reason are its problems on the domestic market and on the Russian market, due to Russia’s embargo on Roshen products due to the war on the Donbass.
Candy Industry data indicates that Roshen’s revenue dropped from $1 billion to $800 million. Bloomberg suggests this year’s revenue won’t exceed $500 million.
J.Hawk’s Comment: I don’t think it’s just about the money. Roshen is Poroshenko’s meal ticket, if he loses it he loses everything and becomes, basically, a nobody. Possibly a nobody with a seat on the Atlantic Council, but who wants to live on US handouts in this manner? Well, Yatsenyuk might…
Anyway, it’s not exactly a vote of confidence in Ukraine’s future when the country’s
owner president decides to establish an exit strategy for himself in this fashion. Because I don’t believe it’s just about business. It’s about Poroshenko’s political and personal exit strategy.