Vladimir Putin removed the assets of the canned food manufacturer Glavproduct from temporary state administration. The company was nationalized almost a year ago

The Glavproduct company, a well-known canned food manufacturer, was transferred to the Federal Property Management Agency in October 2024.

Then 100% of the shares in the authorized capital of Glavproduct, the Baltic Cannery and its owner (United Canneries), Orelproduct JSC and the Verkhovsky Milk Canning Plant were transferred to state management. All of them are owned by Promselkhozinvest LLC, which was founded by the American corporation Universal Beverage Company. It was the American origin of the owner that explained the need for intervention by the Russian authorities.

Later, in July 2025, the court decided to nationalize the holding's assets.

Despite these formal changes, in the list of property under temporary management, Glavproduct was still listed under the management of the Federal Property Management Agency. The new presidential decree excludes Glavproduct and the shares of other holding companies from the external management system.

Formally, this may mean the final transfer of the holding to state management - not temporary, but permanent - with possible further sale. In February of this year, Glavproduct changed its management company: it became the structure of Rosselkhozbank, LLC RSHB-Finance.

A similar fate - with the exception of nationalization - was with the French company Danone and its shares in the assets of the Russian JSC Danone Russia. Foreigners’ shares in the company were transferred to the management of the Federal Property Management Agency in July 2023, and in March 2024 this decision was canceled . Danone Russia, however, was not nationalized, so analysts then assumed that the exclusion of the company could mean the sale of the holding's assets in the near future. This is what happened : already in May of the same year, Danone sold its assets in Russia to a company from Tatarstan.

Glavproduct was founded in 1999 by Leonid Smirnov, an American businessman of Russian origin. After the transfer of the company to the Federal Property Management Agency, as The Insider wrote , by the end of 2024, control over it was actually established by the Friendship of Peoples enterprise, known for supplying products to the Russian Guard and associated with the former head of the Ministry of Agriculture, Alexander Tkachev. Read more about this in the material at the link.