Cherkizovo Group buys poultry plant from Cargill
Cherkizovo Group announced that it signed a preliminary agreement with Cargill to acquire its chicken processing facility, located in Efremov, the Tula region. The deal is subject to regulatory approval from respective Russian authorities and, if approved, is expected to close in a few months.
Cherkizovo’s CEO, Sergey Mikhailov, commented: “We are excited to add another asset aimed to foodservice clients to our portfolio. Being a vertically integrated meat producer, we see significant synergies of a newly acquired plant with our existing supply chain and have plans to increase capacity at this particular plant over time. This acquisition fits well with our strategic plans to increase our share of value-added products and broaden our presence with foodservice clientele, transforming this channel into a significant revenue stream for the company.” The company's latest acquisition was made in December 2019 when Cherkizovo bought Altaisky Broiler for RUB 4.6 bn ($69 million).
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